$6 Billion? No Thanks, Says Groupon
After extensive and highly-publicized talks between Google and Groupon that provided bloggers with material for a week, reports have surfaced that a deal will not be made. (UPDATE: TechCrunch confirmsthe deal is off.)
Groupon has rejected Google’s $6,000,000,000.00 offer, a move that came as a major shock to many in the industry. Insiders at All Things D and Mashable have caught the rumors, which have overshadowed a Kara Swisher exclusive update regarding Groupon’s reported annual revenues.
Initially reported at $500 million a year, that number has quadrupled, with Swisher announcing revised revenue estimates of $2 billion or more. This gives better insight into Google’s $6 billion acquisition offer, but skeptics of the deal argue top line revenues mean nothing if Groupon passes the lion’s share along to its retail partners.
Details are still being uncovered, but this is a story we’ll all want to keep an eye on. Stay tuned.