Groupon acquires restaurant booking firm Savored

US online commerce marketplace operator Groupon Inc (NASDAQ:GRPN) said that it had taken over domestic restaurant reservations provider Savored.

Groupon did not reveal the conditions of the deal, which has been finalised.

Savored’s platform for yield management is complementary to Groupon’s initiatives in the yield management field, where it is active via Groupon Now!, Groupon Now’s vice president, Dan Roarty, noted. The acquired business’s online platform allows for booking reservations at restaurants with automatic deductions of up to 40% of the bills when customers visit the locations. Through its platform, Savored has connected over 1,000 US restaurants with clients.

Groupon was set up in November 2008 and is headquartered in Chicago, Illionis. The company has an office also in Palo Alto, California, locations across North America as well as regional offices globally, including in Europe, Latin America and Asia.

It has a global workforce of some 10,000. Via its eponymous website,, Groupon provides third-party offers of goods and services at a discount in North America and worldwide. It connects businesses and consumers, delivering over 1,000 deals per day globally. The company publishes offers from 48 countries.

Groupon’s consolidated revenue soared 45% on an annual basis to USD568.3m (EUR440.5m) in the second quarter of 2012. The company swung to an operating income of USD46.5m from an operating loss of USD101m in the second quarter of 2011.

Amazon to compete with Groupon by launching daily deal site in London

E-commerce giant Amazon is on a quest to conquer new territories by launching a daily deals site, designed to operate for London initially, it has emerged. The new site will aim to compete with already established daily deals services providers in the area like Groupon and LivingSocial.

The new website, called AmazonLocal, will deliver relevant offers to consumers by e-mail each morning. The offers will be selected on a geographical basis and consumers will be provided with extra reward points if they make purchases with an Amazon credit card, the BBC reports. AmazonLocal is also available in the US, where it was launched about a year ago.

So far, Amazon has not announced any details about the new site but experts predict that the daily deals market, already a very competitive one, is set to go through changes with the entry of the new player. Amazon is at present the leading online retailer in the UK and was crowned the best UK brand last month in YouGov´s BrandIndex 2012.

Gordon Willoughby, director of AmazonLocal for Europe, comments that the retailer aims to provide customers with a comprehensive list of goods and services that can be bought online, so offering them deals from local restaurants, theatres and spas is a natural progression for the brand. Daily deals will now be added to the millions of products for sale on Amazon every day and the retailer will be looking to deliver the best experience to Londoners, he concludes.

Source: M2 Bespoke News