It was one of, if not THE, biggest news regarding the German start-up scene this year. In September, Google announced its acquisition of the No. 2 German deal site DailyDeal (dailydeal.com). While speculations ranged from 150 to 250 million US dollars, the exact purchase sum remained undisclosed – until today.
DailyDeal purchasing price much lower than expected
Google’s acquisition of German deal site DailyDeal in September 2011 left room for much speculation regarding the exact purchase price. The No. 1 Internet search engine now, in its quarterly report to the US Securities and Exchange Commission, revealed a realistic purchasing sum of 114 million US dollars, according to US news agency Reuters (www.reuters.com).
When in 2010, an acquisition of Groupon (www.groupon.com), the most successful amongst the German deal providers, had failed, Google decided to go from best to second best, focusing on DailyDeal next. DailyDeal’s founders Fabian and Ferry Heilemann where meanwhile hitting the headlines with exit rumours to US daily deals company Living Social. At the end of the day, the Berlin company decided on an exit to Google.
Although at 114 million US dollars, the actual purchasing sum is now much lower than the alleged amount of 150 to 250 million US dollars, it still represents one of the most important German companies’ exits of the last years. For Google, acquiring DailyDeal serving Germany, Austria and Switzerland meant reaching international grounds.