Groupon Lands a Sweet Deal

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    NEWSLETTERS

    Groupon, the web company that delivers sweet random deals to your inbox each morning, just got a sweet deal of its own.

    The venture capital firm Accel Partners invested $30 million into the social-commerce site, according to Crain’s.

    Accel has a track record of picking Internet winners. They were early investors into burgeoning companies Facebook and ComScore. They see something they like in the Chicago-based e-coupon company.

    "Groupon has effectively invented social commerce," Accel principal Kevin Efrusy said in a statement.

    It’s not like Groupon was in desperate need of the boost.

    The company that started as a mailer in Chicago last year, has expanded to 26 cities and has been profitable since June. In Chicago alone the company has 220,000 daily users and 100 employees.

    Next on tap for Groupon: They’ll continue to expand into more cities, and they plan on launching a new initiative that drills down to the neighborhood level for hyper-local deals, Crain’s reports.