Early Groupon Backer NEA Dishes Out $226 Million in Deal Site’s Stock
New Enterprise Associates, a venture firm that was one of Groupon’s earliest investors, distributed 20 million shares of Groupon common stock to its general partners and its own investors on Friday, according to a document filed with the SEC on Tuesday.
The 20 million shares are worth about $226 million in total at the current trading price of $11.32. NEA was Groupon’s first outside backer, investing $4.8 million into the company in 2008, when it was still called The Point.
NEA investors, or limited partners, who received shares in this distribution had contributed to the firm’s 12th fund. Last summer, NEA raised its 14th fund, which totaled $2.6 billion.