Google has seen its $6 billion offer for popular daily deals website Groupon turned down.
Citing two sources with direct knowledge of the acquisition talks held last week, Chicago Breaking Business reports that Groupon chose to turn down Google's offer and will instead pursue a initial public offering next year.
It had long been rumoured that Google was in high-level talks with the deals website over the past couple of weeks for a potential acquisition. However, Groupon's board of directors have instead chosen to run the company as an independent entity.
According to Bloomberg, Mason reportedly worried that the takeover would damage employee morale and affect relations with business clients.
Groupon, which was launched 18 months ago, has grown to have some sort of presence in 35 countries and employs around 3000 staff across the world. The company, which went profitable from its seventh month, reportedly raked in $500 million in revenue this year.
The company's financial backers include venture capitalist firm New Enterprise Associates and Accel Partners and investors Brad Keywell and Eric Lefkofsky.