Groupon
Google Trying to Gain Acquisition on Groupon
Google is close to a deal to get hold of Groupon, the ground-breaking online discounter, for as much as $6 billion, people with direct knowledge of the matter stated recently. A deal, in the $5 billion to $6 billion range, could be struck during this week, these people stated, cautioning that the talks still could take a different direction.
At that value, Groupon would be the major attainment ever for Google. The deal would make Google the market leader in the fast developing arena of locally customized discounts. The acquirement would also be Google’s major invasion into local business advertising online, a large and untapped market it has been trying to get into, most recently. Over the last decade, Google has acquired dozens of companies, with an expenditure of billions for the online advertiser DoubleClick and the video site YouTube.
Groupon was founded in 2008 by its chief executive, Andrew Mason and it has become the fastest-growing Internet company ever.
The name Groupon is a combination of the words coupon and group and it is a group-buying site with a local focus. Subscribers obtain a deal each day, customized to the users’ location and profile, and though Groupon will proffer smaller side deals, the objective is to emphasize one discount for each user. A typical deal is 50 to 90 % off retail goods and services, sky diving lessons, restaurant certificates, dance classes and spa services. It’s a modus operandi that has taken off, turning Groupon into a cash machine with more than millions of registered users and an annual revenue of above $350 million.
Google however has refused to comment on the report .
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