2010/12/04

Google bid to buy Groupon fails: report

WASHINGTON, December  4, 2010 (AFP) - Online discount shopping site Groupon has rejected a multi-billion-dollar takeover bid by Internet search giant Google, the Chicago Tribune reported Friday.

The Tribune cited sources close to the matter as saying the Chicago-based startup decided to remain independent. Google was believed to be offering more than five billion dollars for Groupon.

Groupon, founded in 2008, offers discounts to its more than 12 million members on retail goods and services, offering one localized deal a day.

Acquiring Groupon would have played into Google's efforts to localize and personalize Internet searches and services, particularly when it comes to connecting customers with merchants.

Groupon reportedly spurned a two-billion-dollar buyout offer from faded Internet star Yahoo! earlier this year.