A combined $375 million investment by three U.S. mutual fund companies in Groupon has jumped in value to more than $1 billion in less than a year, Reuters reports. Fidelity Investments and T. Rowe Price had contributed $100 million and Capital Group invested $175 million in a series G funding round for Groupon in December.
The combined stock of the three companies was worth $1.24 billion after Groupon’s shares closed at $26.11 on Nasdaq on November 4. Groupon operates an e-commerce marketplace that connects merchants to consumers by offering goods and services at a discount in North America and internationally.
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Capital Group U.S. Fidelity Investments Groupon Reuters