Groupon, the daily deals ecommerce operator which has been struggling since a hot public share offering, said it received a $250 million investment from a private investment fund.
Groupon said it would use the cash infusion from Atairos to boost share repurchases and to revive growth. “Our partnership with Atairos will help accelerate our transformation while better positioning us to execute on our strategy and mission to build the daily habit in local commerce — which we continued to make progress on in the first quarter,” said Groupon CEO Rich Williams.
“I am extremely pleased that a respected, long-term oriented partner like Atairos shares our view about the vast opportunity ahead for Groupon.”
Groupon said it would add $200 million to its share buyback plan.
Groupon went public in 2011 amid enthusiasm over its model of offering deals on a variety of products and services.