If a favorite local restaurant or mani-pedi place seems a bit more crowded than usual, there’s a good chance it can be pinned to Groupon Inc. The Chicago-based company is at the forefront of a revolution called social buying.
Each day they offer at least one deal – a deep discount on a service or product if a certain number of people sign up for the offer. The arrangement has proven to be a win-win: Retailers reduce risk by selling to a secured number of customers and in turn, consumers are scooping up deals one click at a time.
Still, why would Google, one of the most powerful tech companies, want to shell out billions for Groupon?
Eight Forty-Eight's business contributor David Greising weighed in on the rumored courtship. Greising is also a reporter for the Chicago News Cooperative.