Google Offers- Groupon and LivingSocial Killer or competitor

The search giant Google (GOOG) tried to buy GroupOn for $6bn and GroupOn said “NO NADA” and  GOOGLE couldn’t buy Groupon = GOOGEL OFFERS

Google is preparing to launch a very own Groupon-like service, Google Offers, that will notify subscribers about deals in their area. The service will send one local deal-of-the-day via email to users and those deals will be time limited and require a certain number of users to snap them up before they’re activated.

A leaked document has shown Google’s plans to launch their own discount service sometime in the coming months or weeks. Called Google Offers, this discount service will work similarly like Groupon – offering pre-paid offers and vouchers to help businesses promote their products and services to customers. Not many details have been revealed, but the basic business model has been outlined, showing how the discount service will work. It’s going to be interesting to see how well Google will fare against the renowned Groupon.

First revealed by a fact sheet for participating businesses leaked to Mashable, and later confirmed by Google itself, Google Offers takes Groupon’s concept of the power of bulk buying under the Google umbrella.

Google told Mashable: “Google is communicating with small businesses to enlist their support and participation in a test of a pre-paid offers/vouchers program. This initiative is part of an ongoing effort at Google to make new products, such as the recent Offer Ads beta, that connect businesses with customers in new ways. We do not have more details to share at this time, but will keep you posted.”

While Google has confirmed that it is testing something called Google Offers, its statement falls short of confirming that the service is close to launch. Following the leak, the company claimed that it is “communicating with small businesses to enlist their support and participation in a test of a pre-paid offers/vouchers program. This initiative is part of an ongoing effort at Google to make new products, such as the recent Offer Ads beta, that connect businesses with customers in new ways.”

Update 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.

There are many other companies which provide such service but can the now compete with Google Offers now?

Here is the list of Top 10 Best online Group deal-of-the-day websites- Daily discount sites like Groupon

Google Offers Fact Sheet