Groupon may be up for sale, report says
Groupon Inc. is used to subjecting its customers to difficult decisions -– do I buy into that 80% discount on Botox treatments or not? -– but now the popular daily deals website has a dilemma of its own.
The company is considering selling itself to Google Inc., Bloomberg reported. Groupon’s other option would be to move forward with fundraising efforts that could bring its value up to $3 billion, according to people familiar with the situation who asked to remain anonymous.
The decision about a sale might not be made until the end of the year, the people said. Chicago-based Groupon also held earlier talks with Yahoo Inc. that went nowhere.
Each day Groupon sends hundreds of geographically targeted deals and discounts to its users for goods and services such as exercise classes, spa packages and shopping sprees. Sales for the 2-year-old company may exceed $500 million this year, faster than both Google and Amazon.com reached the same milestone, Bloomberg said.
-- Tiffany Hsu
Photo: Andrew Harrer/Bloomberg