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Google eyeing Groupon take over for $6 Billion
By siliconindia
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Wednesday, 01 December 2010, 09:31 IST
Bangalore: The internet giant Google is rumored to be close to strike a deal to acquire Groupon, a localized website for discount shoppers. Although the details of the acquisition are not clear, it is believed to be around $6 billion, an offer hard to reject for the Chicago-based startup.
Referring to sources with direct knowledge of the negotiations, The New York Times reported that the deal could be struck as soon as this week. At this offered price, it is going to be one of Google's largest acquisitions in recent times.
This move by the search engine giant is seen as a bold step to barge into the local business online advertising. Yahoo had earlier made a $3 billion bid which Groupon had rejected. Google's decision has come at a time when the European Union has announced a formal investigation into the company's search practices. Shares of Google slipped as the news about its offering to buy Groupon, got the momentum.
The pioneering online discounter is growing in a very faster rhythm and has millions of people accessing the website daily. Groupon sends daily messages to users in 300 markets, offering discounts on products and services. The daily coupon company offers services like daily deals and offers negotiation for discounts. It also offers coupons, vouchers and other similar services.