Groupon Turns Down Google?s $6 Billion Offer - GoFuckYourself.com

GlazedMedia · 12-04-2010, 04:49 AM

Now here is a nice story from mashable.com if you`re not a fan of Google`s (near) dominance.

Quote:

Groupon has reportedly rejected Google?s massive $6 billion acquisition offer and intends to stay independent.

The group-buying giant has been the center of the tech world this week after it was reported that Google had offered it $5.3 billion with a $700 million earnout. According to Chicago Breaking Business and Bloomberg, Groupon has decided that it is better off on its own.

To say this news comes as a bit of a shock would be an understatement. Many in the technology world believed that Groupon would accept Google?s offer, making its three co-founders (CEO Andrew Mason, Eric Lefkofsky and Brad Keywell) billionaires. Groupon?s board of directors met on Wednesday to decide the company?s fate.

Still, there may be a reason why Groupon rejected this offer. According to AllThingsD, Groupon generates $2 billion in yearly revenue, not the $500 million figure that has been widely reported.

If this report is true, then Groupon is eyeing greener pastures and bigger numbers. Could Groupon IPO in 2011, or will another company make a play for one of the world?s fastest-growing companies? We?ll be watching to find out.

greg80 · 12-04-2010, 04:53 AM

wtf?? Take the cash and run.

GlazedMedia · 12-04-2010, 06:11 AM

Quote:

Originally Posted by greg80

wtf?? Take the cash and run.

Yep it sounds crazy turning it down however Groupon is set to exceed some $500 million in revenue this year and is quoted as the fastest growing company ever (forbes.com/forbes/2010/0830/entrepreneurs-groupon-facebook-twitter-next-web-phenom.html).

beta-tester · 12-04-2010, 06:34 AM

I heard Google bought them for 2.5B.... now this?

minicivan · 12-04-2010, 07:01 AM

considering that facebook (currently working on groupon type project) and google (interested in the concept) can implement these features easily and get hundreds of millions of eyeballs daily and put instant pressure on Groupon,... probably not a good idea to turn down 6 Billion Dollars unless the offer had some bizarre structure that did not make sense for them.

woj · 12-04-2010, 07:56 AM

Quote:

Originally Posted by minicivan

considering that facebook (currently working on groupon type project) and google (interested in the concept) can implement these features easily and get hundreds of millions of eyeballs daily and put instant pressure on Groupon,... probably not a good idea to turn down 6 Billion Dollars unless the offer had some bizarre structure that did not make sense for them.

facebook + google has so much free traffic they will crash groupon in no time...

Machete_ · 12-04-2010, 08:00 AM

Quote:

Groupon generates $2 billion in yearly revenue

how the fuck do they do that?

i never even heard of them till this thread

stocktrader23 · 12-04-2010, 08:03 AM

Quote:

Originally Posted by Machete_

how the fuck do they do that?

i never even heard of them till this thread

Same thing I thought when I read it. Insane.

MaDalton · 12-04-2010, 08:32 AM

Quote:

Originally Posted by Machete_

how the fuck do they do that?

i never even heard of them till this thread

Quote:

Originally Posted by stocktrader23

Same thing I thought when I read it. Insane.

count me in - i guess i need to check what that is

BlackCrayon · 12-04-2010, 08:48 AM

these people aren't dumb but they are too idealistic. just take the money and fucking relax for the rest of your life but no, they think they are doing something huge and who knows what else. they must enjoy doing this more than just making money. personally i'd take the money, move to a tropical island and just be happy. internet trends never last forever.

BlackCrayon · 12-04-2010, 08:49 AM

Quote:

Originally Posted by MaDalton

count me in - i guess i need to check what that is

maybe its a north american thing? i can't go anywhere without seeing their ads all over the place.

12-04-2010, 04:53 AM	#2
greg80 Confirmed User Industry Role: Join Date: May 2007 Posts: 1,644	wtf?? Take the cash and run. __________________ Say no to GoDaddy and high renewal prices! Go with NameSilo - FREE private whois for life, $8.99 regstrations and renewals. Free redirects, emails, great control panel and more! NameSilo rocks!

12-04-2010, 06:34 AM	#4
beta-tester Rock 'n Roll Baby! Join Date: Sep 2004 Location: USA, temporarly Posts: 22,562	I heard Google bought them for 2.5B.... now this? __________________ Sig for sale. Affordable prices. Contact me and get a great deal ;) My contact: ICQ: 944-320-46 e-mail: manca {AT} HotFreeSex4All.com

12-04-2010, 08:48 AM	#10
BlackCrayon Too lazy to set a custom title Join Date: Jun 2003 Location: Ottawa Posts: 19,631	these people aren't dumb but they are too idealistic. just take the money and fucking relax for the rest of your life but no, they think they are doing something huge and who knows what else. they must enjoy doing this more than just making money. personally i'd take the money, move to a tropical island and just be happy. internet trends never last forever. __________________ you don't know you're wearing a leash if you sit by the peg all day..

12-04-2010, 07:01 AM	#5
minicivan Confirmed User Join Date: Jun 2007 Posts: 943	considering that facebook (currently working on groupon type project) and google (interested in the concept) can implement these features easily and get hundreds of millions of eyeballs daily and put instant pressure on Groupon,... probably not a good idea to turn down 6 Billion Dollars unless the offer had some bizarre structure that did not make sense for them.