Google's Groupon deal is off

December 4, 2010: 1:59 AM ET

Reports are coming in that Google and Groupon decided to end acquisition talks late Friday.

Chicago Breaking Business was the first to report that buyout talks between Google (GOOG) and Groupon had been abandoned earlier today.  Citing the desire to be independent and perhaps looking at an IPO next year, Groupon's board turned down offers of around $6 billion from Google.  The purchase would have dwarfed Google's other large purchases including the $1.65 billion it paid for YouTube and the $3.1 billion it paid for Doubleclick

Earlier this week, Groupon was making large updates to its site and infrastructure, like a buyout wasn't in the works.

Interestingly, CNNMoney got this very telling interview with Groupon CEO Andrew Mason in October which showed his desire not to get purchased by Google:

Join the Conversation
About This Author
Seth Weintraub
Seth Weintraub

Google went from searching the Web to worming its way into nearly every facet of business and government. Seth Weintraub unveils where the company is going, who it's competing with, who it's about to compete with and how market forces push the company to veer or adhere to its Don't Be Evil motto. For 15 years, Weintraub was a global IT director for a number of companies before becoming a blogger.

Email Seth
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by VIP.