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Groupon walks away from Google takeover talks

submitted on December 5, 2010 by jack69darin in "Member's Lounge"
Groupon turned down a Google bid rumored to be between $5 billion and $6 billion, according to multiple news reports citing sources close to the talks. The news of the breakup was first reported by the Chicago Tribune's Breaking Business blog, which has tracked Chicago-based Groupon's meteoric rise since the company was founded in 2008.

71Email Print CommentThe daily-deals site is among the fastest-growing companies in history. Run by 30-year-old founder and CEO Andrew Mason (#25 on this year's edition of Fortune's "40 under 40" list), Groupon has 35 million subscribers; 3,000 employees; and operates in more than 300 cities around the world.

The site has sold more than 18 million coupons for local merchants since its launch, and is reportedly turning a profit on sales that press reports put as high as $2 billion a year

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