Groupon acquires venture capital-backed SideTour


ecommerceThe venture capital backers of SideTour have exited their investment in the online marketplace, which has been sold to Groupon.

SideTour, which was backed by venture investors including RRE Ventures and Foundry Group, currently offers more than 500 public and private events with more than 400 hosts including chefs, artists and Olympic medallists using the platform.

Groupon said that SideTour will continue to operate as a separate entity “for some time” and it will distribute its events to its 43m active users.

Venture capital majors including Kleiner Perkins Caufield & Byers and Andreessen Horowitz helped Groupon to the record $950m funding round in January 2011.

Other venture firms to have backed the company in the past include Battery Ventures, Greylock Partners, Maverick Capital, Silver Lake, Technology Crossover Ventures and Russian investment firm DST.

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