Groupon Rejects Google’s Purchase Offer

groupon.jpg

According to sources, Groupon reportedly rejected Google's offers to purchase the coupon site. Google had offered between $5 billion and $6 billion for the daily deal company.

Wow, that must have been a hard offer to refuse!

Groupon may pursue an IPO on their own, a source said, but they are not making a decision until 2011.

Groupon is an incredible story of a small company that became a huge tech monster, with more than 3000 employees in 35 countires and expected revenues of $500 million. And, the company became profitable after only 7 months. 

Google was hoping to use Groupon's relationships with small businesses across the country to increase their local search advertising. Groupon is a Web-based service that offers consumers big discounts on local businesses if enough people sign up for the offer.

Comments

comments

Leave a Reply