Achica's stakeholde​rs decline Groupon's 80 million

Stakeholders at British luxury e-tailer Achica have declined Groupon's 80 million pounds offer to acquire the shopping platform as it might undervalue the company. According to 'The Telegraph', Groupon's was an unsolicited offer, believed to have

been made in the autumn, and turned down earlier in December by the founders and shareholders who deemed it to undervalue the business.

But the disclosure of the approach reflects Groupon’s desire to widen its business model amid a falling share price and competition from rival websites, pointed out various financial media that echoed the news.

Achica is a members-only site which offers users access to high-end brands at prices discounted by up to 70 percent during a fixed-time window of 48 hours. On its own, Groupon is believed to be willing to move away from the business model since its initial public offering in November 2011. Accordingly, in the past twelve months, the American offers group has bought a handful of companies and announced it is working on a mobile payment platform to encourage companies to use its voucher service.

Since the company floated, Groupon’s share price has plummeted by 85 percent after relentless profit warnings, reminded the British journal. It went public at an initial value of 8 billion dollars and now it is worth less than 3 billion dollars.