- ‘Gay Jeans’ that fade into rainbow-colored denim created
- Divided court strikes down big porn award
- Jimmy Carter: Don’t hurt Russian people with sanctions
- Oldest ex-MLB player dies in Cuba, 2 days shy of 103rd birthday
- ‘Top Gun’ for drones: Squadrons of carrier-based killers have Navy’s approval
- Bill Clinton to endorse Charlie Rangel for re-election
- Pfc. Bradley Manning is now Pfc. Chelsea Manning: Court says so
- Secret base U.S. special forces used to train Libyans now under terrorist control: report
- 9th suspect in N.C. kidnapping turns self in to FBI
- L.A. sheriff admits to testing flyover spy program without notifying residents
Google strikes deal to acquire daily deal service
SAN FRANCISCO (AP) - Google Inc.'s latest deal aims to help people find the best daily deals on the Web.
In its latest acquisition of talent and technology, Google has bought Dealmap. It's a 15-month-old startup that compiles discount offers from local merchants scattered in markets across the nation.
Financial terms of the acquisition announced Tuesday weren't disclosed. It's the latest in a flurry of acquisitions that Google has made to expand its Internet empire into promising new markets. Since the end of 2009, Google has spent more than $2.7 billion buying more than 70 companies.
In this case, Google is trying to become a bigger player in the rapidly growing specialty of distributing daily bargains from local merchants around the country. Groupon and LivingSocial have emerged as early leaders, but hundreds of competitors are now vying for a share. Google, as the owner of the Internet's most popular search engine and most lucrative ad network, looms as one of the most imposing entrants.
Google is adding Dealmap to its arsenal just a few weeks after starting its own daily deal service. Its version, called Offers, currently confines its bargains to New York, the San Francisco Bay area and Portland, Ore., but Google plans to add more cities. The company developed its service after Groupon turned down a $6 billion takeover offer last year.
"We've been thrilled with the early success of our commerce offerings, and we think (Dealmap) can help us build even better products and services for consumers and merchants," Google spokeswoman Katelin Todhunter-Gerberg said.
Groupon, which is based in Chicago, is now pursuing an initial public offering of stock that's expected to be completed in September or October. Although it's only three years old, Groupon already is on pace to generate more than $2 billion in annual revenue _ a threshold Google didn't eclipse until its sixth year in business.
Both Groupon and LivingSocial have been aggressively expanding in an attempt to build on their early lead in the daily deal market. LivingSocial broadened its reach in Asia on Tuesday with its own acquisition of a South Korean deal site called TicketMonster.
Dealmap, which is based in Menlo Park, Calif., has built a database that lists deals from more than 450 different sources. It says it has more than 2 million users.
TWT Video Picks
By Andrew P. Napolitano
Obama's veil of secrecy is pierced
- Pentagon plans to replace flight crews with 'full-time' robots
- 'Top Gun' for drones: Squadrons of carrier-based killers have Navy's approval
- CARSON: When government looks more like foe than friend
- Kansas will nullify local regulation of guns
- Nevada rancher Cliven Bundy hailed as patriot, ripped as lawless deadbeat
- America is an oligarchy, not a democracy or republic, university study finds
- Washington Redskins' 2014 schedule opens with Texans
- Texas is next! AG warns BLM wants 90,000 acres after Bundy ranch standoff
- Opposition rising to Colorado gun control laws
- Harry Reid using tax dollars to fight Koch brothers, La. GOP chair charges
Top 10 handguns in the U.S.
Celebrity deaths in 2014