After Turning Down Google’s Offer To Buy It For $6 Billion, Groupon.com Finds Itself
Less than* two years ago Groupon.com turned down an offer of $6 Billion dollars from Google.
It was just over a year ago that Groupon.com went public at $20 a share, given it an implied valuation of $13 Billion.
After reporting declining revenue yesterday shares of Groupon sank below $3 a share today down some 30% from the previous close, giving the company a $1.8 Billion dollar valuation.
So the company went from a $6 Billion dollar offer from Google which if it would have taken all Google stock for, which was at $570 at that time, they would have made an extra 20% as shares of Google are currently $663.
Instead the company is only valued at $1.8 billion and shares are not trending well.