Mashable is reporting this evening that group deal site Groupon has rejected a $6 billion dollar buyout by Google.
Google reportedly ponied up $5.3 billion dollars and coupled that with a $700 million dollar earn out. Groupon had a conference call with their board of directors who decided they were better off alone.
Groupon also reportedly turned down a multi billion dollar offer from yahoo as well. Even though they’ve been busy with acquisition rumors and negotiations with Google, they’ve also been buying up smaller companies themselves.
This week Groupon purchased Silicon Valley based Ludic Labs which specializes in advertising, marketing deals and localized targeting. Groupon also purchased web based companies; ubuyibuy, beeconomic and atlaspost. All three sites are deal or discount sites based in Asia and will give Groupon better coverage in Singapore and Taiwan.
Its hard to say what the deal is with Groupon. They may wait to see if Google makes another offer, or perhaps hold out for their own ipo. According to allthingsdigital.com, Groupon is making closer to $2 billion per year versus the $500 million per year reported earlier.