Google Acquires Savored
Groupon has acquired a company called Savored, which is a restaurant reservation and discount meal provider. The financial terms of the deal was undisclosed. Savored is used by around 1,000 restaurants and gives diners discounts of up to 40% when they book through their website. Groupon will keep Savored running independently. Savored’s team will be working on the Groupon Now! product team and will report to VP Dan Roarty. Savored used to be known as VillageVines and then they rebranded in 2011. Check out the press release below:
Groupon Completes Acquisition of Savored
CHICAGO–(BUSINESS WIRE)– Groupon (http://www.groupon.com) (NASDAQ: GRPN) announced today it has acquired Savored (http://www.savored.com), a leading provider of reservations at the best restaurants across the United States. Terms of the deal were not disclosed.
More than 1,000 restaurants nationwide have used Savored’s unique platform for yield management. After booking a reservation on Savored.com and visiting the restaurant, diners enjoy up to a 40% discount applied automatically to their bill. Merchants enjoy incremental revenue for tables that would otherwise be empty, and consumers are incentivized by the ‘built-in’ discount and roster of high-end eateries to explore.
“Savored’s platform nicely complements Groupon’s efforts in yield management, an area we’ve pioneered with Groupon Now!,” said Dan Roarty, VP of Groupon Now. “We look forward to working together to achieve a common goal – making dining out even more fun and affordable for consumers while helping restaurateurs manage inventory and grow their businesses.”
Savored will continue to serve diners and restaurants at http://www.savored.com. Interested merchants can learn more about Savored’s free 30-day trial at http://savored.com/free-trial/ or by calling (877) 801-1209.
Groupon, launched in November 2008 in Chicago, features a daily deal on the best stuff to do, eat, see and buy in 48 countries around the world. Groupon uses collective buying power to offer huge discounts and provide a win-win for business and consumers, delivering more than 1,000 daily deals globally. To subscribe for the best deals in your city, visit http://www.groupon.com. To learn how to become a featured business, visit http://www.grouponworks.com.
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry