Google Offers $6 Billion for Groupon
Google Offers $6 Billion for Groupon
The world's largest search engine, Google, has reportedly extended an offer of around $6 billion for the e-commerce coupon website, Groupon. According to AllThingsD, the deal would involve an initial payment of $5.3 billion, with the other $700 million serving as an incentive to keep current employees.
The price does seem rather high, considering the social shopping site has only $600 million in revenue, but industry insiders believe that Groupon has only just begun. The site was started just two years ago. The company operates by offering deep discounts to members from retailers, who get huge amounts of traffic in return.
The acquisition would be a continuation of Google's attempts to purchase sites it cannot or doesn't want to build on its own. The company recently purchased DoubleClick and On2 for similar reasons, and is also in the process of acquiring ITA Software, a platform for travel e-commerce, for a reported $700 million.
The world's largest search engine, Google, has reportedly extended an offer of around $6 billion for the e-commerce coupon website, Groupon. According to AllThingsD, the deal would involve an initial payment of $5.3 billion, with the other $700 million serving as an incentive to keep current employees.
The price does seem rather high, considering the social shopping site has only $600 million in revenue, but industry insiders believe that Groupon has only just begun. The site was started just two years ago. The company operates by offering deep discounts to members from retailers, who get huge amounts of traffic in return.
The acquisition would be a continuation of Google's attempts to purchase sites it cannot or doesn't want to build on its own. The company recently purchased DoubleClick and On2 for similar reasons, and is also in the process of acquiring ITA Software, a platform for travel e-commerce, for a reported $700 million.
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