As I wrote earlier in the month, there was speculation that the search giant would try to buy the deals site Groupon for billions of dollars. However, it looks like the deal was rejected according to a number of reputable sources:
- Seeking Alpha: Groupon Turns down Google
- Bloomberg Businessweek: Google’s Groupon Bid Said Rejected
- CNN Money:Groupon walks away from Google takeover talks
I’d love to walk away from a $6 billion dollar deal, but in the first report from Seeking Alpha, it appears that Groupon has a current $1 billion revenue stream and it is possibly only getting better. So, perhaps the management at Groupon are betting like Facebook did in the early stages that they’ll only get bigger.