After Google's failed bid to purchase Groupon for a reported $6 Billion the internet giant is preparing to launch their own online group buying site called "Google offers." Wonder what the founders of Groupon are talking about these days?
Google is preparing to launch Google Offers, the search giant’s Groupon competitor, Mashable has learned. One of our sources has sent us a confidential fact sheet straight from the Googleplex about the company’s new group buying service. “Google Offers is a new product to help potential customers and clientele find great deals in their area through a daily email,” the fact sheet says.
Google Offers looks and operates much like Groupon or LivingSocial. Users receive an e-mail with a local deal of the day. They then have the opportunity to buy that deal within a specific time limit (we assume 24 hours). Once enough people have made the purchase, the Google Offer is triggered and users get that all-too-familiar $10 for $20 deal for that Indian restaurant they’ve never tried.
From what we can tell, Google Offers will be powered by Google Checkout. It also includes Facebook, Twitter, Google Reader, Google Buzz and e-mail sharing options.
Google is actively reaching out to businesses now to get them on board with Offers. It even apparently has a writing team in place to craft the write-up for offers.
Google famously tried to buy Groupon for $6 billion just a few months ago in order to bolster its local advertising business. Groupon rejected the offer though and is instead preparing for a $15 billion IPO.
Below, we’ve embedded the entire fact sheet Google is sending to local businesses:
Read more at mashable.com
The search giant clearly isn’t giving this market up without a fight, though. With its vast reach, huge resources and brand recognition, it could prove to be a powerful player in the space. We’re going to be watching these developments closely. We’ve reached out to Google for comment.