In an effort to get a foothold into the $133 billion U.S. local-ad market, Google had its eye on Groupon Inc, a daily deal site for local metro markets.
But according to inside sources, Google’s offer of $6 billion was immediately rejected by the Chicago-based Groupon.
According news sources, Groupon’s founders are deciding whether or not to sell shares in an initial public offering next year, or pursue a higher offer from Google.
Google’s offer of $6 billion included management oversight for the current Groupon team with incentives if certain goals were met.
via BusinessWeek