Google has reportedly upped its initial $2.5 billion bid Groupon, a localized discount Web site, to a whopping $6 billion.
The $6 billion bid for the e-commerce site would likely comprise $5.3 billion in cash and $700 as an incentive to keep current Groupon employees.
Over the past several months, Groupon has made a massive name for itself offering its members different daily deals from retail and service partners for a dramatic discount. Groupon's deals are offered by specific locations, letting users get deals in their cities and towns. The site frequently offers restaurant gift certificates for a fraction of the price and myriad of other services like helicopter flying lessons or health club visits for significant savings. Groupon leverages social media platforms like Facebook and Twitter to alert members to specific daily deals.
According to a report on All Things Digital, if the Groupon deal goes through as it stands it would be Google's largest acquisition to date.
Adding Groupon to its arsenal would give Google a massive e-commerce edge on its search competitors. Groupon coupled with other recent purchases, including Google's acquisition online retailer Like.com, which was estimated to be worth about $100 million, shows the search giant is serious about broadening its e-commerce presence.
Groupon, which was founded in November of 2008 and has monthly revenues in the range of $50 million, would also increase Google's ability to localize its advertising and compile data on consumer buying habits.
Earlier reports indicated that Google was ready to plunk down $2.5 billion acquire Groupon, a bid that edged out a possible offer from Google chief search rival Yahoo, which was reported to be in the $1.7 billion range.
The Groupon grab would continue Google's 2010 acquisition hot streak, which as of early October totaled 24 companies acquired; that's more than Google's 2007, 2008 and 2009 acquisition totals combined and totaled an estimated $1.5 billion.