Tiger Global Buys Groupon Stake

Nov 20 2012 | 1:32pm ET

One of the hottest hedge funds around thinks that Groupon Inc. has been kicked around enough.

Tiger Global Management has bought a nearly 10% stake in the Chicago-based online coupon company, it said in a U.S. Securities and Exchange Commission filing. The New York-based hedge fund's 65 million shares are worth about $200 million.

Groupon shares have lost some 80% of their value since the company's initial public offering a year ago. It's also the third struggling Internet the hedge fund, which is up more than 25% this year, has added to its portfolio, after Facebook Inc. and Yahoo! Inc.

Groupon hit a record low last week after it missed its third-quarter revenue projection. But Tiger Global's interest has led to a rally that pushed Groupon to a four-month high.

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