Online coupon site LivingSocial said it raised $400 million in a round of funding, bringing the total to more than $600 million as investors flock to companies that provide socially driven discounts. Get the full story »
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Starbucks CEO invests in Groupon, gets board seat
Starbucks CEO Howard Schultz. (AP Photo/Elaine Thompson)
Chicago-based daily deal site Groupon said on Thursday Starbucks Corp Chief Executive Howard Schultz has joined its board of directors and that his venture capital firm has taken a stake in the daily deals website.
Schultz’ firm, Maveron, previously invested in retailers such as zulily, which offers daily deals on clothing geared to mothers and their children, and the lucy activewear chain, which was sold to VF Corp in 2007.
Groupon reportedly got a $6 billion takeover bid from Google in November, which it turned down. Two-year-old Groupon recently completed a $950 million round of financing. Get the full story »
