Google (NASDAQ:GOOG) announced a new update for Google Maps on Android, which adds support for Google Offers to the application. It also rolled out an update which enables merchants to offer free Google Offers. To this point, Google Offers have been restricted to certain towns in the U.S., but with this new update, even merchants in towns where Google Offers haven’t launched yet can use the new self service interface to create these free Google Offers. 
This could act as a placeholder until Google finally expands into those markets with its full, payment-enabled offering. The new update also expands the reach of Google Offers, by leveraging the widespread usage of Google Maps to drive its Offers service, which has been struggling to gain traction in a hyper competitive space dominated by Groupon (NASDAQ:GRPN), the market leader and LivingSocial, which is backed by Amazon (NASDAQ:AMZN).
The success of Google Offers could also potentially boost adoption of Google Wallet, its payment service, generating additional revenue for the search giant.
We currently have a $678 Trefis price estimate for Google, which stands nearly 10% above its market price.Notes: