- Obama not worried about Ebola at upcoming African summit in D.C.
- Obama: ‘We tortured some folks’ after 9/11
- Obama administration asked whole D.C. Circuit to take on major Obamacare case
- Mark Levin: Topple GOP leadership or country will ‘unravel’
- Massachusetts to let police chief deny gun buys to those deemed unfit
- John Kerry condemns attack on Israeli soldiers, kidnapping
- U.S. starts to evacuate American Ebola patients from West Africa: Report
- Geraldo slammed as ‘dummy’ for backing Clinton’s bin Laden claim
- Israeli spokesman: No need to debate who broke the cease-fire
- 35 Palestinians killed; Israeli officer missing
Google strikes deal to acquire daily deal service
Question of the Day
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 Orrin G. Hatch
Procedural changes impede the chamber's traditional deliberative function
- Border agents cleared of civil rights complaints from illegal immigrant children
- U.N. condemns Israel, U.S. for not sharing Iron Dome with Hamas
- Obama military strategy too weak for future security, panel reports
- Porn-surfing feds blame boredom, lack of work for misbehavior
- Ben Carson takes major step toward presidential campaign
- Feds raid S.C. home to seize Land Rover in EPA emission-control crackdown
- Ted Nugent slams 'lying freaks' at liberal media: I'm 'doing God's work'
- CRUZ: A tale of two hospitals: One in Israel, one in Gaza
- Report: 40% of weapons sent to Afghanistan are unaccounted for
- House backs faster deportations, cancels 'Dreamer' policy
Top 10 U.S. military helicopters
Obama's biggest White House 'fails'
Celebrities turned politicians
Athletes turned actors