New York-based Group Commerce, which was founded by veterans of Google and DoubleClick, has raised a second round of funding only two months after emerging from stealth mode, according to All Things Digital. The company developed a technology that allows merchants and publishers to offer limited-time deals on the Internet. The funding round of $10 million brought Group Commerce’s total haul to $18.5 billion, and was led by Spark Capital, Carmel Ventures, Lerer Media Ventures, and Bob Pittman, chairman of media and entertainment platforms at Clear Channel.
Author: Arlene Weintraub
Arlene is an award-winning journalist specializing in life sciences and technology. She was previously a senior health writer based out of the New York City headquarters of BusinessWeek, where she wrote hundreds of articles that explored both the science and business of health. Her freelance pieces have been published in USA Today, US News & World Report, Technology Review, and other media outlets. Arlene has won awards from the New York Press Club, the Association of Health Care Journalists, the Foundation for Biomedical Research, and the American Society of Business Publication Editors. Her book about the anti-aging industry, Selling the Fountain of Youth, was published by Basic Books in September 2010.
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