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money

As was reported earlier Groupon has already raised half of their nearly $1 billion round of funding. In an SEC filing Thursday, the Chicago-based company states that the initial sale of took place on December 17 with another $450 million still to be raised within the current round.

There was some educated speculation that much of the $500 million just raised would be used to cash out founders and existing shareholders. The recent filing now gives a clear image of exactly how the money will be used and shows that $345 million of the current funding will go to “executive officers, directors or promoters.”

Those named include founder and CEO Andrew Mason, Eric Lekofsky and Brad Keywell. Other board members include Ted Leonsis, John Walter, Jason Fried, Peter Barris, Harry Weller and Kevin Efrusy. The form also listed a $7.5 million “finder’s fee”.

According to The New York Times Groupon is also considering an initial public offering to issue common stock or shares in an attempt to become publicly traded, possibly as soon as the end of this year.

Krissa Ashton

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