Groupon adds Starbucks founder Howard Schultz to board

Group buying giant Groupon has welcomed Starbucks president and chief executive Howard Schultz.

The move comes after Groupon accepted a $US950 million round of funding led by a group of investors including Andreessen Horowitz, Battery Ventures, DST, Greylock Partners, Kleiner Perkins Caufield & Byers, Maverick Capital, Silver Lake and Technology Crossover Ventures.

Shultz’s own investment firm Maveron was part of that funding, according to a report from Mashable.

Groupon chief executive Andrew Mason said in a statement that Shultz will be able to add experience as chief as one of the world’s “most iconic brands”.

“Howard is an invaluable addition to the Groupon board. His experience in building the culture and business of Starbucks and his relentless focus on innovation to improve customer experiences brings a unique combination of skills to our board of directors.”