Report: Google to Launch Groupon Clone

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If you can't buy 'em, join 'em. According to Mashable, Google is set to launch a Groupon-like daily deals platform called Google Offers. The Mountain View, CA-based company reportedly offered Groupon up to $6 billion last month but was turned down.

Mashable said it received a confidential fact sheet from a source inside Google that detailed the firm's new group buying service, which is similar to Groupon and LivingSocial. In short, Web users will sign up for daily e-mails with local offers from restaurants and merchants, as well as an occasional deal from a national brand. An excerpt from the fact sheet sent to prospective business partners: "Google Offers is a new product to help potential customers and clientele find great deals in their area through a daily email."

Google's development comes on the heels of naming founder Larry Page as the new CEO and announcing it made $8.4 billion during 2010's Q4.