In response to Groupon’s rejection of Google’s $6 billion offer, Google plans to respond by coming up with their own daily deals site that will compete with sites like Groupon.
Google Offers will operate very similarly to sites like Groupon and Living Social. Google Offers users will receive an email featuring a local daily deal and then they will have the opportunity to take advantage of the deal within a certain period of time (likely 24 hours). When enough people have locked into the deal, participating users will be able to take advantage of the deal.
According to Mashables:
The search giant clearly isn’t giving this market up without a fight, though. With its vast reach, huge resources and brand recognition, it could prove to be a powerful player in the space.
Time will only tell, but it seems likely that Google will become a solid competitor in the world of social/group buying and daily deals.