Boston, MA – (NYSEPOST) – Groupon Inc (NASDAQ:GRPN) was the lead-investor in ClubLocal. This service makes it simple to book & to buy various household services. ClubLocal has received $10.7M in total funding. There are some other individual investors as well as 2 original founding members of ReachLocal in this particular round of funding. This funding round was made up of the initial $7.5M in funding with the option for the company to contribute $3.2M within next year. ClubLocal also completed more than 11,000 home repair jobs since its launch in August 2012 across more than a dozen varying home service categories and very recently it also expanded its offerings -Dallas upto San Francisco.
This funding will now be utilized to expand the geographic footprint & the network of various independent professional service-providers. In addition, it will be used to add momentum to the introduction of different innovative features via their online and the mobile booking platform. Zorik Gordon, the Chief executive Officer of Club Local said that the transition to online booking and the buying of home services is a massive market opportunity and they are proud that they are pioneering it. He said that they are extremely excited that they have the experience of their investor group as they move onto the next phase of the company, especially in the strong consumer-presence that Groupon Inc (NASDAQ:GRPN) brings to ClubLocal.
He said that they believe that this financing round firmly positions them as an independent, well-funded company that pursue this massive market opportunity, more aggressively. Groupon Inc (NASDAQ:GRPN) of course has been trying very hard, at its end to solve management of the company’s selling, general, & its administrative expenses.