Search giant Google is rumored to have reached an agreement to acquire the web coupon site Groupon for $2.5 billion. It will be the company’s largest acquisition since purchasing the ad company DoubleClick for $3.1 billion in 2008. The report, reportedly from a Google insider, has not been confirmed by Google.
If true, the acquisition will be another setback for Yahoo, which reportedly offered between $1.7 and $4 billion for the company. Groupon is the most successful start up in history, with revenues in excess of $50 million per month. The company was founded in Chicago just two years ago.
Read More at Valor TV.
Read More at the Business Journal.