Why Groupon Rejects Google’s $6Billion Bid?
A week ago, I wrote about what retail can learn from Groupon. It might be a lot, since Groupon this week has reportedly rejected a $6 Billion offer from Google.
Groupon CEO Andrew Mason speaks at the company’s headquarters on Aug. 31, 2010.
But surprisingly (or not), Groupon turned down the acquisition offer from Google and is staying independent. The two companies had been engaged in talks, with speculation about the marriage reaching a fever pitch over the last week. Google seemed to have offered between $5 billion and $6 billion for the Daily Deal start-up Groupon.
Groupon still may choose to pursue an initial public offering but will not make a decision about going public until 2011, a source said. A Google spokesman said the company does not comment on rumor or speculation.
You might assume that Groupon is very relaxed and convinced in achieving its Brand and Business objectives as a stand alone company?
Probably Groupon feels it has more to offer in terms of business model and growth opportunties. Or will Groupon accept a bid from another party than Google soon?
Anyway, this deal offering by Google, and the rejection of the bid by Groupon, might even shake-up more offline and online retail companies? WTF is happening here, some very large retailers might think..?!
Source: Chigago Breaking Business
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