According to Bloomberg, coupon crowd-sourcing giant Groupon has been reported to fill out the paperwork to raise a maximum of $950 million in funding, potentially increasing its value to $7.8 billion. The exact amount is expected to be disclosed next week.

“Groupon Chief Executive Officer Andrew Mason is shoring up the company as he ponders an initial public offering in the new year. Mason said in a Twitter message yesterday that Groupon was in the process of completing a new round of financing.”

Groupon is looking to go public, and is keen on remaining independent. With a chance to surpass Google’s bid on the company by around $1.7 billion in the near future, the bid’s rejection was evidently a positive decision. We covered Digital Sky Technologies (DST) partner Alexander Tamas’ commentary on the rejection, as he defended it while highlighting Groupon’s enormous potential, in his eyes. Aside from this, a prospected $950M in funding may justify yet another Groupon move. That is in turn the appointment of the company’s first CFO, Amazon-ex Jason Child, which we covered here.

Groupon definitely experiencing some serious growth, and with 30 million registered users and countless clone site, it becomes evident crowdsourcing coupons is a good idea. Groupon is also rushing its advancement and it recently acquired local business advertising service provider Ludic Labs. It did encounter however, some early trouble concerning advertisers’ satisfaction raters, which we also discussed here.