by Luisa Kroll Bounty HunterNov. 30 2010 - 1:57 pm
In September, we named Eric Lefkofsky, the biggest individual investor in Groupon, as a ”billionaire in the making.” He was one of 15 people we cited as likely to become billionaires by 2015. Fifth on the list, behind folks like Zynga’s Mark Pincus and Facebook’s first president Sean Parker, he was estimated to be worth $750 million.
It’s been a crazy couple of years for Groupon, which presents online customers with deep discounts on products or services. (The name blends “group” and “coupon.” ) Groupon raised $135 million in April, the biggest chunk of it from Digital Sky Technologies, the Moscow investment fund behind Facebook and Zynga. Based on that transaction, the 17-month-old company was already valued at $1.35 billion. The only company to reach a $1 billion valuation faster, according to Forbes writer Christopher Steiner, was YouTube (now part of Google), founded in 2005. We featured Groupon on our August cover, calling it the fastest-growing company ever.
Lefkofsky and Mason met at InnerWorkings, a Chicago firm where Mason worked after college. Lefkofsky was a founder of the outfit, which farms out companies’ printing jobs. Lefkofsky later gave Mason $1 million in angel capital for another startup idea he had. While Mason runs Groupon, Lefkofsky is busy looking for other investments. Earlier this year, he cofounded a venture fund LightBank, which has stakes in nearly a dozen companies. He is also the author of Accelerated Disruption and an adjunct professor at the University of Chicago Booth School of Business.
As for whether the deal will get done, Google said it does not comment on “rumor or speculation.” Calls and/or emails to Groupon and Lefkofsky have not yet been returned.
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