Saturday, December 4, 2010

Groupon rejects Google's $5 billion offer

Group coupon marvel Groupon Inc. has apparently turned down an acquisition offer from Google Inc. and is staying independent. The Chicago-based online phenomenon started two years ago and is said to have been profitable in eight months. Google is said to have offered between $5 and $6 billion for the daily deal start up. According to the Chicago Tribune story linked: "Groupon offers consumers steep discounts online for local businesses such as restaurants and salons, with the deal tipping for everyone if a minimum number of its subscribers sign up for the offer. Groupon takes a cut, typically 50 percent, of the revenue from each deal it runs."

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