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.