Groupon rejects Google’s Massive $6 billion Acquisition offer; will stay Independent !!
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| Groupon CEO Andrew Mason speaks at the company's headquarters on Aug. 31, 2010. (Brian Cassella/Chicago Tribune) |
Groupon has reportedly rejected Google’s massive $6 billion acquisition offer and intends to stay independent.
The group-buying giant has been the center of the tech world this week after it was reported that Google had offered it $5.3 billion with a $700 million earn-out. According to Chicago Breaking Business and Bloomberg, Groupon has decided that it is better off on its own.
To say this news comes as a bit of a shock would be an understatement. Many in the technology world believed that Groupon would accept Google’s offer, making its three co-founders (CEO Andrew Mason, Eric Lefkofsky and Brad Keywell) billionaires. Groupon’s board of directors met on Wednesday to decide the company’s fate.
Still, there may be a reason why Groupon rejected this offer. According to AllThingsD, Groupon generates $2 billion in yearly revenue, not the $500 million figure that has been widely reported.
If this report is true, then Groupon is eyeing greener pastures and bigger numbers. Could Groupon IPO in 2011, or will another company make a play for one of the world’s fastest-growing companies? We’ll be watching to find out.
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