Groupon has reportedly rejected Google's massive $6 billion acquisition offer and intends to stay independent.
The group-buying giant has been the center of the tech world this week after it was reported that Google had offered it $5.3 billion with a $700 million earnout. According to Chicago Breaking Business and Bloomberg, Groupon has decided that it is better off on its own.
To say this news comes as a bit of a shock would be an understatement. Many in the technology world believed that Groupon would accept Google's offer, making its three co-founders (CEO Andrew Mason, Eric Lefkofsky and Brad Keywell) billionaires. Groupon's board of directors met on Wednesday to decide the company's fate.
Still, there may be a reason why Groupon rejected this offer. According to AllThingsD, Groupon generates $2 billion in yearly revenue, not the $500 million figure that has been widely reported.