In the News: Groupon Flexes Its International Muscles

In the News: Groupon Flexes Its International Muscles

The company that boasts $950 million in venture funding announced today that it acquired three local competitors in three international countries–SoSasta, Groupoer and Twangoo–and, from the purchase, launched Groupon India, Groupon Israel and Groupon South Africa.

Groupon hasn’t disclosed how their current cash flow will be spent, but some speculate the large investment will be used by the company to expand independently while attaining smaller companies that have an established customer base.

Last year, the startup, which is proving to be a Godsend for small businesses expanded to Latin America, Europe, Russia and Japan. Prior to that, it purchased three deal sites (Atlaspost, Beeconomic and uBuyiBuy) in Asia in order to spread to East and Southeast Asia.

Groupon, a hot property which currently employs more than 4,000 people worldwide, denied a $6 billion buyout from Google. Their reason? The owners reportedly felt the price undervalued the company. Since its start in 2008, they have saved consumers over $300 million in daily deals in more than 300 markets and 35 countries.

For related content, read:

4/11: 11 Life-Altering Trends to Watch for 2011

Tools to Curb Holiday Spending