Being courted by Google with a $6 billion dollar bid would make any company go stir crazy with excitement and perhaps even sign off on the agreement without blinking twice. This however isn't the case with Groupon and although still undergoing negotiations, it sure has not slowed down the Chicago-based daily deals company from continuing on its mission of bringing its ‘group daily deals’ concept to an even larger audience.
Groupon has recently recent acquired 3 international daily deals companies and as a result, intends to launch within the coming months localized Groupon sites in Hong Kong, Singapore, the Philippines, and Taiwan. Not too shabby of a plan since their concept has been well received thus far and has even been dubbed by Forbes magazine back in August as the “fastest growing companies in Web history.”
With over 3000 employees worldwide and a solid online business model, Groupon has taken the initiative to further establish itself in the daily deals arena. Their concept simply put is having local businesses offer a hefty discount on a ‘group daily deal’. When enough people take advantage of this group deal by purchasing this same item on the same day, thus forming the required ‘group’ size, all would then benefit from the heavily discounted price and purchase.
As if this wasn’t a large enough venture in its own right, Groupon on Wednesday also acquired the San Mateo-based company Ludic Labs, a startup centralized in creating a platform for consumers to find advertising and deals from local businesses. Sounds like a great fit in Groupon’s overall scheme, right?
How all these recent acquisitions will affect the overall purchase bid from Google as Groupon continues to increase its overall worth is anyone’s guess. Either way this courtship has definitely brought more limelight on Groupon, and perhaps even exponentially accelerated its growth. Let’s see where this road takes them.
[Source: CNN Money]