Google to launch Groupon competitor: Google Offers

Google is reportedly preparing to launch a service similar to Groupon, Google Offers. Mashable first reported the news, they got hold of a fact sheet on Google Offers. Google sent a response to Mashable in Google style which ofcourse confirms that Google Offers is real. Earlier Google tried to buy Groupon for $6 billion, but Groupon rejected the deal.

Google offers works similar to other deal services like Groupon and Livingsocial. Looks like Google will send a daily mail with deals of the day to users, the users can buy the coupons within a specific time frame.

From the face sheet it looks like Google offers will be powered by Google Checkout the forgotten payment service from Google.

Google will hold 80% of the business’s revenue share for 3 days after the deal commenced and remaining 20% for 60 days to adjust for the refunds.

An example offer from the factsheet
Google to launch Groupon competitor: Google Offers
Google Offers Factsheet

The deals also carry share buttons for email, Google buzz, Facebook, Google Reader and Twittter.