Groupoun rejects Google’s offer
Google’s attempt to purchase Groupon by offering them a handsome amount of money has gone in vain. Mind you this is not the official statement coming out of Google or Groupon. Instead this news comes your way via a couple of sources familiar with the matter which is normally what happens in these cases.
It seems that the daily deal offering startup wasn’t attracted by the 5 – 6 billion dollar acquisition offer put up by the search engine giants. There are chances that Groupon may go forward with the initial public offering but will presumably go public no earlier than 2011.
Google was reached out for comments to which they gave a typical reply – Google doesn’t comment on rumors or speculations. The so called rumor or speculation may enter the reality zone come Monday as Groupon is expected to register their reply.
When a small company (in comparison to Google that is) rejects an acquisition offer from a one of the IT giants, one just wonders what gives. Well here is the thing, Groupon is an international organization with 3000 employees operating in 35 countries. Most important of all, the company is expected to get an impressive revenue of $500 million for the current year.