(Crain's) — Groupon Inc. has spurned an offer to be purchased by Google Inc., the Chicago Tribune reports, citing two sources.
Chicago-based Groupon was considering an offer from Google, reported to be worth up to $6 billion.
Groupon's board was reportedly divided over selling to Google, with directors representing some more-recent investors wanting to put off a sale in hopes the Chicago company will be worth more down the line, according to a report Friday on the Wall Street Journal's Deal Journal blog.
According to a story posted on the Tribune's website Friday evening, a source told the paper that Groupon might decide next year to pursue an initial public offering.
Representatives from Groupon and Google were not available to comment Friday evening.
Groupon allows online buyers to join together to qualify for a discounted service or product it offers everyday online in more than 300 markets in the U.S. and abroad. A Groupon spokeswoman declined to comment.
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