Groupon said no to Google's $6 billion. Its founder was later fired.
In December 2010, Groupon was two years old and emailed one discount deal a day to more than 33 million subscribers in 35 countries.
NBC News reported that Google first offered $3.5 billion to $4 billion, then $6 billion. It would have been the biggest deal in Google's history. On Friday, December 3, 2010, Groupon turned it down.
Ten years later, founder Andrew Mason told the Chicago Tribune: "We looked at our numbers, and we were just growing faster than ever."
Groupon listed in November 2011 at $20 a share and was valued at $16.6 billion on its first day. Mason's own memo later cited two quarters of missed expectations. By February 2013 a share closed at $4.53, and the board fired him. The memo opened with a joke about spending more time with his family.
For a CFO, the useful number sits in Groupon's own prospectus: a $389.6 million net loss for 2010, the year it said no. Growth that fast still had to turn into cash.
AI-generated illustration with narration by an AI voice.
What would you have needed to see before saying no?
What the captions say
- This is the story of how Groupon, a 2-year-old deals website, turned down a reported $6 billion offer from Google.
- At the time, saying no was a bet that Groupon could make more money on its own.
- Its founder was Andrew Mason, a relaxed, lanky music major, as Forbes described him.
- He first built a website for petitions. In October 2008, he used that idea to sell deals, and called it Groupon.
- An early deal was two-for-one pizza at a Chicago bar. By 2010, Forbes called Groupon the fastest growing company ever.
- Then Google came to buy it. NBC News reported a first offer of $3.5 billion to $4 billion, then $6 billion.
- It would have been Google's biggest deal ever. On Friday, December 3, 2010, Groupon said no.
- Ten years later, Mason told the Chicago Tribune: "We looked at our numbers, and we were just growing faster than ever."
- In November 2011, Groupon went public. On day one, the market valued it at $16.6 billion.
- Then, in Mason's words, it missed its own expectations two quarters running. By February 2013, a share closed at $4.53.
- On February 28, the board fired him. He wrote to his staff: "I've decided that I'd like to spend more time with my family. Just kidding - I was fired today."
- Today, Groupon still runs on its own. For 2025, it reported revenue of $498.4 million.
- In 2010, Mason had looked at his numbers, and said no to Google.
