Google has been seeking expansion the social and local information spaces lately, partially via numerous failed attempts at acquiring businesses that have already carved a nice market niche out for themselves. Had recent talks with the highly profitable Groupon panned out–with an offer price of $6bn plus incentives for current executives–an acquisition may have had a greater impact on Google’s new local services push than Yelp could have offered, had negotiations not fallen through a year back.
While Google may be in want at the close of this courtship, investors should be applauding a new era in tech, says James Altucher of Formula Capital. He appeared on Yahoo! Finance’s Tech Ticker to explain why this rejection signifies a market boom rather than a bubble and why rebuffs like this can be a good thing, at least for investors.