Investment Summary

Silver Lake, TCV, Battery Ventures and DST Global Invest In Groupon

On April 19, 2010, private equity firm Silver Lake, private equity firm TCV, private equity firm Battery Ventures and DST Global invested in e-commerce company Groupon

Investment Highlights
  • This is Silver Lake’s 3rd, TCV’s 1st, Battery Ventures’ 1st and DST Global’s 1st transaction in the E-Commerce sector.
  • This is Silver Lake’s 27th, TCV’s 39th, Battery Ventures’ 26th and DST Global’s 3rd transaction in the United States.
  • This is Silver Lake’s 2nd, TCV’s 2nd, Battery Ventures’ 2nd and DST Global’s 1st transaction in Illinois.
Investment Fate
  • Groupon went public in 2011.
  • Groupon was sold to a financial buyer in 2016.

Investment Summary

Date 2010-04-19
Target Groupon
Sector E-Commerce
Investor(s) Silver Lake
TCV
Battery Ventures
DST Global
Deal Type Growth Capital

Target

Groupon

Chicago, Illinois, United States
Groupon's corporate headquarters in Chicago, Illinois.
Groupon's corporate headquarters in Chicago, Illinois.
Groupon is a social eCommerce site. Groupon leverages social media and collective buying power to feature daily deals in more than 500 markets around the world. Groupon was formed in 2008 and is based in Chicago, Illinois.

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Investor(S) 4

Investor

Silver Lake

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 104.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Silver Lake is a mega-sized private equity firm focused on a broad range of growth investments in and acquisitions of technology companies. Silver Lake is subdivided into several investing groups including Silver Lake Partners, Silver Lake Sumeru, Silver Lake Waterman, Silver Lake Alpine, and Silver Lake Kraftwerk. Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Sumeru invests in middle market technology companies with established business models and attractive growth prospects where there is an opportunity to create value through operational transformation. Silver Lake Waterman provides growth capital to later-stage companies in the technology and technology-enabled industries, offering flexible solutions to finance expansion and acquisitions. Silver Lake Alpine is Silver Lake's debt and credit investing arm. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. Silver Lake Partners was formed in 1999 is headquartered in Menlo Park, California.


DEAL STATS #
Overall 35 of 137
Sector: E-Commerce M&A 3 of 4
Type: Growth Capital M&A Deals 3 of 34
State: Illinois M&A 2 of 4
Country: United States M&A 27 of 97
Year: 2010 M&A 4 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-19 Tandberg ASA

Lysaker, Norway

Tandberg ASA is a provider of video conferencing solutions and telepresence products worldwide. It offers telepresence and video conferencing products, which include immersive systems, multipurpose room systems, and personal systems.

Sell $3.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-04 Interactive Data

Bedford, Massachusetts, United States

Interactive Data Corporation is a provider of financial information. Thousands of financial institutions and active traders, as well as hundreds of software and service providers, subscribe to the company's fixed income evaluations, reference data, real-time market data, trading infrastructure services, fixed income analytics,desktop solutions and web-based solutions. Interactive Data’s offerings support clients around the world with mission-critical functions, including portfolio valuation, regulatory compliance, risk management, electronic trading and wealth management. Interactive Data is headquartered in Bedford, Massachusetts and has over 2,400 employees in offices worldwide.

Buy $3.4B
Investor

TCV

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 21.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Technology Crossover Ventures (TCV) is a private equity and venture capital firm focused on investments in growth technology companies. TCV looks to provide capital for growth, recapitalizations, acquisitions, and buyouts of technology companies in sectors such as internet, financial technology, infrastructure & communications, and software. TCV targets opportunities in North America and looks to commit between $10 and $500 million of equity capital per transaction. TCV was formed in 1995 and is based in Palo Alto, New York City, and London.


DEAL STATS #
Overall 46 of 85
Sector: E-Commerce M&A 1 of 2
Type: Growth Capital M&A Deals 8 of 23
State: Illinois M&A 2 of 3
Country: United States M&A 39 of 70
Year: 2010 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-22 Techwell

San Jose, California, United States

Techwell is a fabless semiconductor company that designs, markets and sells mixed signal video semiconductor solutions for the security surveillance and automotive infotainment markets.

Sell $370M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-21 Green Dot

Provo, Utah, United States

Green Dot is an issuer of prepaid master and visa cards that provides reloading services. Green Dot Bank focuses on serving low and moderate income families with financial products and services, including prepaid cards, checking accounts and cash processing services distributed through a network of retail stores, neighborhood financial service centers and via digital channels. Green Dot was founded in 1999 and is based in Provo, Utah.

Sell -
Investor

Battery Ventures

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Battery Ventures is a private investment firm focused on opportunities in the technology and related-sectors. Battery will invest at all company stages, from seed and early-stage capital situations to leveraged buyouts, PIPEs, spin outs, rollups and take-privates of established companies. Battery's private equity group focuses on investments in companies with revenue of $5 to $200 million and EBITDA up to $25 million. Battery can commit up to $100 million in equity per transaction. Specific areas of interest include software; IT services and outsourcing; communications components, systems, and services; and financial services and tech-enabled businesses. Battery will consider investments throughout North America, Europe, and Asia. Battery Ventures was formed in 1983 and is headquartered in Menlo Park, California.


DEAL STATS #
Overall 27 of 118
Sector: E-Commerce M&A 1 of 2
Type: Growth Capital M&A Deals 10 of 37
State: Illinois M&A 2 of 4
Country: United States M&A 26 of 78
Year: 2010 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-02 Nova Instruments

Woburn, Massachusetts, United States

Nova Instruments serves the global test and measurement market through a portfolio of companies that provide instrumentation and solution sets for analysis, calibration, control, measurement and monitoring in various applications. Nova Instruments was founded in 2010 and is based in Woburn, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-07 Panaya

Menlo Park, California, United States

Panaya, Inc. is a provider of automation technology for large scale enterprise software management. Panaya’s unique knowledge base and cloud platform enables enterprises to automate and dramatically reduce deployment and maintenance costs of ERP solutions across their business.

Buy -
Investor

DST Global

Moscow, Russia

Category Private Equity Firm
Founded 2005
Size Large
Type Sector Focused
DESCRIPTION

Digital Sky Technologies (DST) is a global private investment group focused on investing in or acquiring internet software/service businesses. DST will consider opportunities in social networking and communications, e-payment solutions, online marketplaces, social games, and vertical specific websites. The Firm is willing to be a majority or minority investor and can handle investments from as little as $1 million to as much $200 million (with a typical deal size of $10 to $100 million). DST generally prefers profitable companies. DST was formed in 2005 and is based in Moscow with an additional office in London.


DEAL STATS #
Overall 7 of 9
Sector: E-Commerce M&A 1 of 1
Type: Growth Capital M&A Deals 1 of 1
State: Illinois M&A 1 of 1
Country: United States M&A 3 of 4
Year: 2010 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-01 Zynga

San Francisco, California, United States

Zynga is a developer of online social games with more than 200 million monthly active users connected via social networks such as Facebook and technology platforms such as the iPhone. Zynga was founded in 2007 and is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-18 VK Company

Limassol, Cyprus

VK Company is an Internet company in the Russian-speaking world and the leading Internet company in Russia, based on global monthly unique users. VK Company was founded in 1998 and is based in Limassol, Cyprus.

Sell -