"Cash" to return to investors, not to take from new investors. Taking new investors (especially at such a crazy valuation) just raises the expectations even further and makes Groupon have to take ever bigger risks.

I mean, seriously, a $6 billion valuation (if real) is $20 in _profit_ from every man, woman, and child in the United States. Not revenue, not EBITDA, but true profit returned to investors in 2010 dollars. That is a through-the-moon valuation.