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 Offers Factsheet

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