In a move that is set to expand its core business with new local marketing offerings for both merchants and consumers, popular daily deals website Groupon announced recently that it has acquired Internet startup Savored, a restaurant booking platform similar to online reservations and restaurant review site OpenTable.
Terms of the deal were not disclosed, but many industry observers were quick to note that Groupon’s expansion efforts seem to be focused on transforming the company into a wider platform for individual and merchant users: enabling online restaurant reservations, travel package bookings, location-based discounts, and customer purchase tracking. An “operating system for local commerce,” as Groupon CEO Andrew Mason had envisioned a few months back.
“Savored’s platform nicely complements Groupon’s efforts in yield management, an area we’ve pioneered with Groupon Now,” said Dan Roarty, Groupon Now VP. “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.”
Headquartered in New York, Savored lets diners make free online reservations at restaurants across the US – in key cities that include Atlanta, Boston, Chicago, Denver, Los Angeles, Miami, New York, Philadelphia, San Francisco, and Washington, DC. To differentiate itself from OpenTable (which currently has over 20,000 featured restaurants, compared to Savored’s 1,000-plus), the site also lets its users enjoy discounted prices at restaurants where they have made a reservation.
“Together, Groupon and Savored will be able to deliver even more exceptional dining experiences to consumers while continuing to focus on restaurant profitability,” wrote Savored Co-founder and CEO Ben McKean in a company blog post. “The Savored product will remain sophisticated and elegant, enabling diners to make reservations at the very best restaurants and receive discounts of up to 40 percent seamlessly taken off their bill.”
Are you running or managing a restaurant business in a city where Savored operates? What do you think of the Groupon-Savored deal, and what are your thoughts on enabling online restaurant reservations through a platform similar to OpenTable? Let us know in the comment section below or hit us up on Facebook or Twitter (@reviewtrackers). Looking forward to hearing from you!