Google is preparing to launch Google Offers, the search giant’s Groupon competitor,
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 you’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.
Ha! Brilliant! I was shocked when I first heard Google was trying to buy Groupon. "Why don't they build their own version!?" I thought. "It's so easy to do."
Throwing 6 bills at something they could recreate seemed crazy, like going after YouTube, throwing big money around at a questionable financial concept.
At the very least they should try their own hand at deals and wait till it fails before buying a successful company for $6 billion! I like companies that figure out how to save $6b in this sour economy.
I'm not convinced Google will fail. I don't buy the customer service argument. Done properly this could be a really cool new Google venture.