Spurned By Groupon, Google Goes Hunting |
| New York Times - Dec 21, 2010 |
After failing to win over Groupon with a $6 billion bid, Google is courting the social-buying site’s rivals, according to the New York Post.
The Post, citing an unnamed source, said Google is “in talks with much smaller rivals of the two-year-old firm.”
That could be just about any company in the daily-deal space, given Groupon’s heft. In two years, the Chicago, Ill.-based firm has ballooned to 3,100 employees, 35 million users in 300 markets, and more than $1 billion in annual revenue. In comparison, LivingSocial, the No. 2 player, has about 10 million subscribers in more than 120 markets.
Although LivingSocial, which also generates significant cash, may be an attractive alternative for Google, a takeover deal would not come cheap or easy. Earlier this month, LivingSocial raised $183 million from Amazon and LightSpeed Ventures, in a deal that valued the company at more than $1 billion. At the time, the company reiterated its commitment to flying solo.
Read Full Article from New York Times
- Posted: 2010-12-21 11:09:03
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