Groupon tells Google where to shove $6 billion

Andrew Mason, founder of Groupon, has stunned Wall Street by rejecting a $6 billion bid from Google to buy his online coupon business.

According to AP, the proposed acquisition fell through amid hesitation by Groupon’s founding team.

The start-up is thinking about flogging shares in an initial public offering instead. The news prompted to publish a video interview recorded two months ago but never used.

In that interview Mason was asked if the company had ever had any buy-out offers and he said that he was hoping McDonald’s or Exxon would try to buy it.

Mason was specifically asked if he would sell to Google and he said that he would rather be part of something like General Electric.

Google had offered $6 billion, including incentives that would be paid to Groupon’s managers if performance targets were met.

Groupon would have pushed Google into the $133 billion local-ad market which was an arena that it desperately wanted to enter..

Of course there are other companies it can buy up, so it is not like they are going to be too worried.

Mason had the biggest say in the decision as the largest shareholder and he was concerned about the strategic direction the company would take under new management.