Google in talks to buy Groupon deals site2010-12-01 10:25 by DanielaTags: Groupon, Google
Google may be on the verge of clinching its biggest deal yet with a reported $5-billion bid for Groupon, the fast-growing company that is blitzing the Internet with daily coupon deals. The purchase would extend Google's dominance in online advertising, helping it gain local business dollars to fend off surging competition from Facebook Inc., which rolled out its own deals initiative last month. Groupon sends its subscribers daily e-mails offering 50% to 90% discounts on products and services, such as spa treatments, fitness classes and restaurants. The daily bargain — a $40 pedicure for $20, for example — must be purchased upfront and is good only if a minimum number of people buy it, encouraging them to recommend the deal to friends. It has proved to be a monster business. In just two years, Groupon has staked claims in more than 300 markets worldwide and has more than 33 million subscribers, making it one of the fastest-growing companies in history. It has succeeded in a lucrative area coveted by major Web companies: reaching shoppers where they make the bulk of their purchases. Read more -here-
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