According to news reports, Vatornews reports Google has bought Groupon for $2.5 billion citing a “reliable source” familiar with the situation.

The acquisition — which is unconfirmed at this point — follows the rumors about Google being in talks to buy the popular local deals site, after Yahoo had failed to negotiate an acquisition for a $2 billion to $3 billion earlier this year.

Groupon is one of the quickest Internet success stories in recent memory, with a $1 billion and climbing valuation, reported revenues of more than $50 million per month (the site is relatively new, having been launched in November 2008) and copycats, trying to emulate its success, sprouting nearly every day.

Photo by Google/Groupon.

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