If these reports are true, than this will be the second time Google will have failed to go into local, with Yelp talks also falling through. And walking away from that amount of money is pretty incredible. However the situation could very well still be fluid and the companies could continue to flirt until Groupon either goes public or take perhaps even more money from investors.
This has been a very leaky negotiation, basically negotiating through the press, so this could just be Groupon’s way of playing hard ball through a strategic leak. Your move Google.
Update: We’ve heard from a third source that the deal is in fact off and that Groupon’s revenue run rate is now at $2 billion instead of the oft-quoted $500 million.
Groupon features a daily deal on the best stuff to do, see, eat, and buy in more than 565 cities around the world. By promising businesses a minimum number of customers, Groupon can offer deals that aren’t available elsewhere.
Groupon brings buyers and sellers together in a fun and collaborative way that offers the consumer an unbeatable deal, and businesses a large number of new customers. To date, it has saved consumers more than $300 million and claims it... Google provides search and advertising services, which together aim to organize and monetize the world’s information. In addition to its dominant search engine, it offers a plethora of online tools and platforms including: Gmail, Maps, YouTube, and Google+, the company’s extension into the social space. Most of its Web-based products are free, funded by Google’s highly integrated online advertising platforms AdWords and AdSense. Google promotes the idea that advertising should be highly targeted and relevant to users thus providing...
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Company:
Groupon
Website:
groupon.com
Launch Date:
November 11, 2008
IPO:
July 11, 2011, NASDAQ:GRPN
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