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06 August 2014

Remember the Groupon $6 Billion Brushoff of Google

The legacy of groupon.com for all start-ups--avoid self-delusions--"Emerging from that process, it felt like a butterfly emerging from the cocoon.We went through a period of introspection and self-doubt, and then ultimately emerged in a state of supreme confidence. Like, OK, we're the best company in the world."--former Groupon CEO Andrew Mason (source)

Rubes, Inexperience, Hubris?--when you are a start-up, before you reject a multi-billion dollar offer from the likes of Google, it's time to put the egos down, and use your rational brains--

Behind Groupon's $6 Billion Brushoff of Google - WSJ: "...In the fall of 2010, search giant Google offered nearly $6 billion to buy Groupon [groupon.com]... the daily-deals site..." (read more at the foregoing link)

So where is Groupon today?

Groupon disappoints on weak Q2 revenue of $751.6M, investors quickly send it packing | VentureBeat | Business: "Before the bell, Groupon stock was slightly up by less than one percent. In after hours trading, the company is down a whopping 17 percent."

Total market cap today? Only $4.82 billion--about a billion dollars less than what Google would have paid in 2010!

more news links below (on mobile go to web version link below)