Filthy Rich from Groupon
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Even though the heat is cooling off tech company investments, Groupon is set to IOP for $750 million. However Groupon is seen as a sales company, and not a tech company. And it looked like their stocks were going to crash after their not-so-well received SuperBowl ads.
Related: Deal Fatigue: Is Groupon Losing its Appeal?
Even though the heat is cooling off tech company investments, Groupon is set to IOP for $750 million. However Groupon is seen as a sales company, and not a tech company. And it looked like their stocks were going to crash after their not-so-well received SuperBowl ads.
Related: Deal Fatigue: Is Groupon Losing its Appeal?
Business Insider reported;
Starting in April 2010, according to Groupon’s S-1, Groupon executives and investors began pocketing some money by redeeming shares. Even more shares were redeemed between December 2010 and February 2011. In total, $870 million worth of shares have been redeemed. Even CEO Andrew Mason took a pile of dough. He has been walking around with $28 million since January.
Groupon just filed an S-1 with the SEC in order to raise $750 million in an IPO. Usually, an IPO is when the insiders get filthy rich. But with Groupon, a lot of the early investors and founders have already taken huge piles of cash off the table.
Here are the 13 people getting filthy rich from Groupon:
1. Theodore J. Leonsis
Total Shares Redeemed: 38,946 shares of voting common stock
Redemption Payment Amount: $208,491
2. Jason Fried
Total Shares Redeemed: 35,310 shares of voting common stock
Redemption Payment Amount: $557,721
3. Brian K. Totty
Total Shares Redeemed: 41,470 shares of voting common stock
Redemption Payment Amount: $655,019
4. Robert Solomon
Total Shares Redeemed: 316,558 shares of voting common stock
Redemption Payment Amount: $4,890,790
5. Kenneth M Pelletier
Total Shares Redeemed: 663,028 shares of voting common stock
Redemption Payment Amount: $8,581,437
6. Accel Growth Fund L.P.
Total Shares Redeemed: 211,037 shares of Series E preferred stock
Redemption Payment Amount: $19,999,976
7. John R. Walter
Total Shares Redeemed: 1,911,616 shares of voting common stock
Redemption Payment Amount: $23,832,489
8. Andrew Mason
Total Shares Redeemed: 3,982,756 shares of voting common stock
Redemption Payment Amount: $27,931,440
9. 600 West Partners II LLC
Total Shares Redeemed: 4,971,132 shares of voting common stock
Redemption Payment Amount: $67,326,834
10. New Enterprise Associates
Total Shares Redeemed: 738,694 shares (603,754 shares of Series D preferred stock and 134,940 shares of Series E preferred stock)
Redemption Payment Amount: $70,006,315
11. Rugger Ventures LLC
Total Shares Redeemed: 12,784,144 shares of voting common stock
Redemption Payment Amount: $156,641,287
12. CityDeal Management UG
Total Shares Redeemed: 10,778,720 shares of voting common stock
Redemption Payment Amount: $170,249,882
13. Green Media LLC
Total Shares Redeemed: 26,967,896 shares of voting common stock
Redemption Payment Amount: $314,577,525
