In what seems a very unusual move, the founders of DailyDeal are buying back their company from Google after selling it to the search company just a year and a half ago. DailyDeal is a coupon promotional site much like Groupon, and was founded in Germany only four years ago. Google is said to have paid $114 million for the firm, but was reportedly getting ready to shut down the company down. TheNextWeb.com reports Fabian and Ferry Heilemann stepped in to buy DailyDeal back and prevent the employees from losing their jobs–they’ve also stated that they’ll continue to grow the business.
Coupon and daily deals sites began to be a big trend in 2011, but since then Groupon, which is perhaps the most famous and successful one, has been through hard times. Groupon’s big rival LivingSocial just raised $110 million in funding from existing investors. Meanwhile Google has apparently decided dedicated daily deal sites aren’t the hottest business to be in, and has gone its own way by integrating deals into an extension to its massively widespread AdWords system.