Google buys DailyDeal (coupon promotion); later sells company
Companies in Relationship
Initial Announcement Date:
Consideration: $114M cash (Source: Google 10Q)
Google buys DailyDeal for a reported $114 million. The company offers daily coupon promotion deals in Germany, Austria and Switzerland. The company is a Groupon clone.
February 2013 -- The Heilemann brothers (founders of DailyDeal) are buying back their company from Google. Google was apparently getting ready to shut down the company.
DailyDeal was intended to support Google Offers international expansion after Google's bid for Groupon was turned down at a time when the daily deal market was red hot. Google apparently feels this space is turning cold.
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