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Groupon says no thanks to Google's $6 billion buyout offer

Google's offer not enough for $2 billion a year coupon site

| Business, Financial & Legal News | Posted: Dec 4, 2010 4:04 pm

Well, it looks like Google's money isn't good enough for the folks at Groupon. Google reportedly offered up to 6 billion dollars for the local coupon site, but this deal wasn't sweet enough for Groupon who now reportedly pulls in around $2 billion a year in revenues.

 

TweakTown image news/1/7/17888_001.jpg

 

This $2 billion figure is a lot higher than the original projections that had Groupon pulling in around $500 million a year. Groupon sees half of this amount as the other 50 percent goes to the merchant, but the full figure is counted as revenue. Three years worth of revenue obviously wasn't enough for Groupon, who is also possibly considering going public with an IPO next year.

 

NEWS SOURCE
Techcrunch.com

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