Google is Launching Its Own Group Buy Site - Google Offers
Saw this on Mashable:
Google Offers looks and operates much like Groupon or LivingSocial. Users receive an e-mail with a local deal of the day. They then have the opportunity to buy that deal within a specific time limit (we assume 24 hours). Once enough people have made the purchase, the Google Offer is triggered and users get that all-too-familiar $10 for $20 deal for that Indian restaurant they’ve never tried.
In terms of paying out to the merchants:
We’ve also learned that Google will pay out 80% of a business’ revenue share three days after its deal runs. Google will hold the remaining 20% for 60 days to cover refunds before sending the rest.
So Google couldn't buy Groupon for $6 billion so they are rolling their own? Will they be heading Down Under? I'll imagine that it would tightly integrate with Google Maps, Google Local and Google Places. Google's advantage would be massive online infrastructure and big budget, although I heard the customer service there is quite lacking.
Would you buy from Google Offers?