Group Buying Site Groupalia Raises $15M, Expects A Turnover Of $150M In 2011
More investors pouring more money into Spanish group buying site Groupalia as the company just announced that it has landed $15 million from current shareholders and new backers like General Atlantic, Insight Venture Partners and Index Ventures. The round follows a 5 million euros investment secured back in October 2010 and a 2.5 million euros round secured back in May 2010.
Groupalia is a site that features a daily deal, in the form of a discount coupon, on the best things to do, see, eat and buy in the cities where it is present. The company expects a turnover of $150 million in 2011, which would be 16 times the turnover booked last year.
The company says the extra capital will be used to consolidate its position in the countries where it is already present and explore strategic partnerships or acquisitions.
Groupalia claims 6 million users, 400 employees and a presence in eight countries: Spain, Italy, Brazil, Mexico, Argentina, Colombia, Chile and Peru. Spectacular numbers, if you stop and think about it – the company was founded less than a year ago (May 2010).