Groupon Rejects Google’s $6 Billion offer, Hoping to Issue an IPO


According to the Chicago Tribune, quoting two people “with direct knowledge of the situation”, Groupon has reportedly rejected Google’s $6 billion offer for the Chicago-based daily deals start-up, Groupon Inc. and will remain independent.

A source also told the Tribune, “Groupon may still choose to pursue an initial public offering but will not make a decision about going public until 2011″.

Groupon’s run rate for this fiscal year is clocking in at close to $2 billion in revenue, rather than the widely speculated $500 million, according to sources close to the situation.

What’s your opinion on the rejection of the Google offer for Groupon?  Is this a smart or dumb move?

We are following this news closely.

Douglas Idugboe

Douglas Idugboe, Digital and New Media Marketing Strategist. Founder and Chief Editor of Smedio! A Canadian Bestselling Author, Marketing Strategist, Speaker and Trainer, Who help businesses grow their revenue.
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