PE Firm Sequoia to Invest in Groupon India

Groupon, Inc. GRPN announced that private equity firm, Sequoia, has agreed to invest in Groupon India. Groupon will remain a significant shareholder. "The potential of the Indian market is huge -- our decision to bring in Sequoia is expected to provide the additional resources our India business needs to grow and become a true local commerce leader," said Groupon CEO Eric Lefkofsky. "We look forward to watching the business grow and evolve as a continued shareholder in the company." Groupon India will continue to operate under Ankur Warikoo's leadership. Groupon's Shared Service Centers in Chennai and Bangalore will remain under the sole control and operation of Groupon. See full press release