Google makes big bid to buy Groupon: reports
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Google has offered as much as 6 billion U.S. dollars to acquire Groupon, the Chicago-based social buying site, U.S. media reported on Tuesday.
A deal, in the range of 5 billion to 6 billion dollars, could be struck as soon as this week, The New York Times said in a report, citing people with direct knowledge of the matter.
In a separate report, technology blog All Things Digital said Google is offering 5.3 billion dollars, and a deal "seems likely to be struck."
At the reported price tag, the Groupon deal would represent one of Google's largest acquisitions so far.
Groupon, whose name is a combination of "group" and "coupon," specializes in providing customers with discounts purchased in bulk.
Founded in 2008, the shopping site now offers a daily deal on local goods, services and cultural events in more than 300 markets worldwide.
According to The New York Times, Groupon has signed up more than 12 million registered users and is reaping more than 350 million dollars in estimated annual revenue.
The Groupon deal, if done, will move Google instantly to the top spot in local commerce online and give it huge troves of data about consumer buying habits and merchant information across the globe, the All Things Digital noted.
However, both reports cautioned that talks between Google and Groupon could still fall apart.
