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That one is gonna go down as the most fundamental of position misreads in financial history, right up there with the AOL Time Warner merger.
If Business Insider is a good source (I really wouldn’t know, I just thought the article was interesting), there was more to that Google deal than Groupon simply turning their offer down.
http://www.businessinsider.com/why-group…
Big stinking useless pile of shit. Google’s non-buy of this POS is looking almost as good as Ballmer’s non-buy of Yahoo for 32 billion.
“Whatever the number Groupon’s board wanted, Google balked.
This made the choice easy for Groupon’s board, and they walked away from the deal. There was too much risk involved to take a deal that would only pay a 3X multiple on the $2 billion run-rate Groupon started seeing in November and December.”
I hope the fantastically greedy bastards are wearing barrels for pajamas before this is all over. They’re never going to see more than Google was willing to offer on their unsustainable business.
As someone who occasional does service-industry work, I fucking hate Groupon.
not to brag, but at the time, I SAID that Groupon’s owner was a dumb dumb shit for not taking that Google money. Groupon is NO Facebook.
stooooopid
“not to brag, but at the time, I SAID that Groupon’s owner was a dumb dumb shit for not taking that Google money. Groupon is NO Facebook.”
Well gee Cassandra, nobody at all had the same idea as you 😀