Groupon rejects Google's $6b offer

Deal-of-the-day website operator Groupon is believed to have walked away from a $6 billion (€4.5 billion) offer from Google.
 
The company has chosen to stay independent and is mulling an IPO a company insider told All Things Digital, adding that a decision on the share sale will be taken in 2011.
 
However, the sale to Google isn’t dead in the water and talks could resume if Groupon’s management has a change of heart, Bloomberg reported.
 
Groupon's potential valuation has shot up from just $1.3 billion in April. It turned down a $3 billion offer from Yahoo earlier this year, and reportedly rejected Google's initial approach of $3.5 billion to $4 billion.
 
The company reportedly generates annual revenue of $2 billion – far higher than the $500 million originally quoted, All Things Digital said.
 
The acquisition would have been Google's largest – nearly double the $3.2 billion it paid for display ad company DoubleClick in 2007.

Suggested Articles

Wireless operators can provide 5G services with spectrum bands both above and below 6 GHz—but that doesn't mean that all countries will let them.

Here are the stories we’re tracking today.

The 5G Mobile Network Architecture research project will implement two 5G use cases in real-world test beds.