Groupon has been one of the more prolific startup acquirers in recent history, besides Google, Facebook, and Zynga. Following the IPO, it had a significant infusion of cash which enabled it to fund its loss-making core business, and acquire a number of startups which let it expand its range of offerings, in its bid to become the “operating system” for local businesses.
Today, it announced the acquisition of Savored, a startup in the restaurant reservations and discounts space. Savored is used by more than 1000 restaurants and offers discounts to customers when they book through its platform. It helps restaurants with yield management, and even out customer traffic during peak times. Savored will be a great addition to Groupon’s offerings for restaurants and other similar small businesses. It will be merged with Groupon Now.
Here’s the official press release by Groupon, announcing the acquisition:
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.”