Groupon Completes Acquisition of Savored
CHICAGO--(BUSINESS WIRE)-- Groupon (http://www.groupon.com) (NAS: 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 announcement contains forward-looking statements that involve risks and uncertainties, and actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include, but are not limited to, the factors included under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's Annual Report on Form 10-K for the year ended December 31, 2011 and subsequently filed quarterly reports filed with the Securities and Exchange Commission, copies of which may be obtained by visiting the company's Investor Relations web site at http://investor.groupon.com or the SEC's web site at (www.sec.gov). You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. We undertake no obligation to update publicly any forward-looking statements for any reason after the date of this press release to conform these statements to actual results or to changes in our expectations.
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