The Google-Groupon deal is off
December 6th, 2010 - 7:49 pm ICT by Aishwarya BhattNew York, Dec 6 (THAINDIAN NEWS) New reports indicate that Google’s $6 billion bid for Internet coupon provider, Groupon, has been overturned. It was reported that the founder of the website, Andrew Mason was behind the rejection of the offer.
It is reported that though Google is offering some great incentives for the owners and management of the website, there are still doubts about the future of the company and that of its employees and as such the deal might not be successful.
However other insiders believe that the urge to sell the company is not there because of the performance of the company. The company is currently doing well and it will not make so much sense to sell now. The company is currently in competition with about 500 other websites but it seems Groupon has the clear advantage in terms of users.
Nonetheless, the rumor of the deal that reached its fever pitch last week has not been confirmed by either Google or Groupon. However analysts believe that a takeover of Groupon by Google will undoubtedly help Google’s presence on the Internet.
Groupon which was founded in 2008 by Mason has some 35 million users. The website provides discounted deals to several of its users and they are currently leaders in such businesses.
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Tags: andrew mason, doubts, fever pitch, google, incentives, insiders, internet coupon, new york dec, presence, rejection, takeover, urge