Google Inc. (NASDAQ:GOOG) has made its case as one of the most popular holdings among equity hedge funds with its aggressive approach to various acquisitions and experiments with various business models, services and properties. Google has gotten a lot of headlines for its work in acquiring properties. But what about jettisoning properties? Other than Google streamlining its Motorola Mobility, there hasn’t been much talk about Google’s empire getting smaller.
Google Inc. (NASDAQ:GOOG) bought the Germany-based DailyDeal online couponing business in 2011 in the hopes of enhancing and expanding its Google Offers business to compete with the likes of Groupon Inc. (NASDAQ:GRPN). The concept was working so well that the company was on the verge of shutting down the operation, until the co-founder brothers stepped in and offered to buy back DailyDeal. Deal done, though the detaisl of the purchase are not yet disclosed.
The brothers, Fabian and Ferry Heilemann, have announced their commitment to returning DailyDeal to its prior couponing model, which was established in Germany, Austria and Switzerland. While online daily deals have seemed to fade overall, the brothers Heilemann have indicated interest in expanding its property, and even gave hints and expanding into some different areas.
What do you think? Is Google Inc. (NASDAQ:GOOG) giving up on its Google Offers service with DailyDeal, or is this signalling a new approach with Offers moving forward? Give us your thoughts in the comments section below.
DISCLOSURE: I own no positions in any stock mentioned.
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