Groupon posted their latest investment round on Groupon San Francisco today, offering a fraction of a percent of the company for $100k, provided 200 people get in on the deal.
“We needed to pick up an extra few mil,” said Andrew Mason, founder and CEO. “So we thought ‘Why not?’ and we posted it up.”
Forty potential investors are on board so far.
“This is a great idea by Groupon,” said Andrew Drahon, angel investor. “If they happened to miss any of the investors in San Francisco, like those living under a rock, they can pick them up with this deal.”
Deal-seekers with less than six figures to spare on the daily deal site were less thrilled.
“I’m looking for an oil change or Thai food,” said Rick Beckas. “I don’t have 100 bucks to spend much less 100 thousand.”
Groupon has so far raised over a billion dollars, mostly through traditional means. The company is currently valued at around 15 billion dollars, the magnitude of which only became clear after this deal, good for a mere six ten-thousandths of a percent of the company.