Deals

Groupon gobbles up Savored in deal made in foodie heaven

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Deal-hungry Groupon has devoured New York-based reservation and dining discount startup Savored. Price and terms of the acquisition meal are not available.

Savored is a two-year-old, venture-backed company with a presence in 11 U.S. markets, including dining destinations New York, San Francisco, and Los Angeles. The company works with roughly 1,000 restaurants that typically dole out 15 percent to 40 percent-off deals to diners who book tables through the online and mobile reservation service.

Savored will remain operational. It plays in the field of yield management by helping restaurant fill tables by offering discounted experiences to consumers, based on market factors such as day of week and time of day. This closely aligns with Groupon Now, Groupon’s always-in-flux mobile experience that caters to consumers looking for right-here, right-now cheap meals.

“Savored’s platform nicely complements Groupon’s efforts in yield management, an area we’ve pioneered with Groupon Now,” Groupon Now vice president Dan Roarty said in a statement. “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 raised more $3 million in funding. The startup, which made VentureBeat contributor Rocky Agrawal’s list of companies getting local right for small businesses, initially started its life as VillageVines before it relaunched as Savored last year.

Photo credit: leedav/Flickr

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