In November 2009, Accel Growth Fund invested $20 million in Groupon by buying 2,932,553 shares of Series E convertible preferred stock. What was the realized IRR of this investment, if the fund sold at IPO and "each share of Series E preferred stock was converted into 12 shares of Class A common stock on October 31, 2011? To find the IPO price, you should download Groupons IPO prospectus (form 424B4) from Edgar or other sources.

Accel Growth Fund IRR on Equity Investment
Series E preferred stock
Equity Value Year 0	$20,000,000
Shares	2,932,553
Price at Issue
Class A Common Stock
Conversion ratio	12
Converted Shares
IPO Price Nov. 4, 2011
Equity Value Year 2
IRR