Groupon snags online restaurant platform

Sep 24, 2012
Online US daily deals firm Groupon said Monday it had acquired the restaurant reservation company Savored for undisclosed terms.

Online US daily deals firm Groupon said Monday it had acquired the restaurant reservation company Savored for undisclosed terms.

The move gives Groupon what is described as "a leading provider of reservations at the best restaurants across the United States."

"Savored's platform nicely complements Groupon's efforts in yield management, an area we've pioneered with Groupon Now!" said Groupon's Dan Roarty.

"We look forward to working together to achieve a —making dining out even more fun and affordable for while helping restaurateurs manage inventory and grow their businesses."

The statement said more than 1,000 restaurants nationwide have used Savored's platform, which automatically applies up to a 40 percent discount to customers' bills after sitting them at unused tables.

Chicago-based Groupon has been struggling since a hyped public offering last year.

It posted a sound in August but saw its stock tumble due to a disappointing forecast for the months ahead.

The company made its at $20 per share in November and peaked above $31 dollars a share. The shares fell another 1.5 percent Monday to close at $5.20.

Explore further: Alibaba surges in Wall Street debut

add to favorites email to friend print save as pdf

Related Stories

Groupon stock slides despite quarterly profit

Aug 14, 2012

Online shopping deals giant Groupon posted a sound quarterly profit but saw its stock tumble nearly 20 percent due to a disappointing forecast for the months ahead.

Groupon launching in Thailand

Feb 27, 2012

Groupon announced Monday it was launching in Thailand, the 47th country for the daily deals site outside the United States.

Groupon CEO: Moving fast is key to success

May 07, 2012

(AP) -- Groupon CEO Andrew Mason says the online deal company's business continues to improve, though he acknowledges in a letter to shareholders that the six months since its initial public offering have been "rocky to ...

Groupon reports smaller 1Q loss, higher revenue

May 14, 2012

(AP) -- Online deals company Groupon Inc. posted a smaller net loss and sharply higher revenue in the first quarter, helped by increased demand from a growing customer base.

Recommended for you

Alibaba surges in Wall Street debut

1 hour ago

A buying frenzy sent Alibaba shares sharply higher Friday as the Chinese online giant made its historic Wall Street trading debut.

Alibaba makes Wall Street debut

6 hours ago

Alibaba made its long-awaited Wall Street debut Friday on the heels of a record stock offering that opens the door to global expansion for the Chinese online retail giant.

Alibaba IPO to boost employee fortunes to $8 bn

8 hours ago

Employees of Chinese e-commerce giant Alibaba will see their fortunes swell to nearly $8 billion as the company prepares a massive US stock offering that could be valued at $25 billion.

Alibaba mega IPO caps founder Jack Ma success tale

11 hours ago

When Jack Ma founded Alibaba 15 years ago he insisted the e-commerce venture should see itself as competing against Silicon Valley, not other Chinese companies. That bold ambition from a time when China was ...

User comments : 0