Earlier this week, rumors were flying that Google was in the process of purchasing the social buying site Groupon (group + coupon), which offers its members daily discounts at local businesses. With a reported $6 billion offer, the deal would have been Google’s largest acquisition yet, and a way for the company to tap into online advertising from local businesses. But the deal fell apart, TechCrunch reports today. As it turns out, Groupon might not even need Google’s billions: “Our source has also verified that Groupon’s annual revenues are now at a $2 billion run rate, which is much higher than the figures that had previously been circulating.” This is the part where everyone else remembers they’re in the wrong industry and considers jumping ship to float away together in a happy tech bubble, never to be popped.
Confirmed: The Groupon/Google Deal Is Off [TechCrunch via Runnin’ Scared/VV]
