Groupon snags online restaurant platform

September 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: Groupon stock slides despite quarterly profit

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