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Report: Google Shopping For Groupon Rivals

Who didn't see this coming? Now that Groupon appears out of reach, Google is eying some of the social buying site's rivals, sources tell The Post. Potential prey includes LivingSocial, with a reported $1 billion valuation, along with BuyWithMe, though it's reportedly only doing $20 million in revenue. "The deal talks show that the search giant is intent on jumping into the fast-growing local coupon market through acquisitions and not through organic growth," writes The Post.

The clear leader in the space, Groupon has an 80% coupon market share and claims to have $1 billion in annual revenue. Yet, with its vast resources, Google could help any deal site scale and potentially give Groupon a run for its money. Likely anticipating some Google-sized competition, Groupon just this week hired Jason Child, a former Amazon vice-president of finance, as its chief financial officer. "Analysts," as The Post notes, "believe this signals it is ready to list its shares." Hello, IPO!



Read the whole story at The New York Post »

1 comment about "Report: Google Shopping For Groupon Rivals".
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  1. D S, December 22, 2010 at 12:49 a.m.

    I think Google will get better bang for their buck if they go with a smaller Groupon clone... $6 billion was a lot even if Groupon currently is king of the world. There are lots of similar sites out there using pretty much the exact same system. lists over 130 Groupon-like daily deal websites.

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