5/20/2023 0 Comments Groupon google payGroupon has spawned numerous copycats, including LivingSocial, CrowdSavings, BloomSpot, Tippr and Scoop St. Groupon employs about 3,000 people and is run by its 30-year-old founder, Andrew Mason. "The success of the business is based on great deals, and to get great deals, you have to have a lot of salespeople out there selling, and that's an expensive way to grow a business." Groupon's aggressive expansion may mean that the site is "already coming up against diminishing returns, and that's been fundamentally one of the biggest challenges of this space," she said in an interview with the AP. in 2008.įorrester Research retail analyst Sucharita Mulpuru said Groupon made a mistake if the reported $5 billion figure had been an up-front cash payment "because that was the best the company would do on a valuation standpoint."īut Mulpuru said that if the proposed payout was some kind of staggered deal, subject to Groupon meeting certain performance targets over the next few years, walking away "wasn't such a bad idea, because they probably weren't going to meet those hurdles." It would have marked the highest price that Google paid for a company, eclipsing its $3.2 billion purchase of online advertising service DoubleClick Inc. Google was pursuing Groupon in an attempt to turn the Internet's largest advertising network into an even more powerful marketing vehicle. Groupon, a 2-year-old startup based in Chicago, dangles a different bargain each day to people signed up for the service. Messages by The Associated Press for Groupon representatives were not returned Saturday. The reports say Groupon may pursue an initial public offering of stock. Groupon, whose ties to local merchants and some 35 million subscribers worldwide made it a company worth potentially $5 billion to $6 billion to Google, has decided to stay independent for now, according to the Chicago Tribune, The Wall Street Journal and The New York Times, which cited unnamed sources close to the negotiations.
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