Groupon Up For Sale

I remember my girlfriend Ruth telling me she thought the founders of Groupon, the leaders in daily deals on the Internet, were nuts because they turned down a $6 billion buyout from Google just a few years after they started. I agreed with her. We had a good laugh about how greedy they were.

A year later they were worth $16 billion after a 2011 IPO, which was the second largest for a tech company during those years. Ruth and I stopped laughing. We should have started crying that we weren’t the ones who came up with the idea. Ruth became a big Groupon customer. She always included us in the fun activities she bought. To this day, she and her husband Howard, are always going to amazing events that were presented on Groupon.

That’s why I was so startled when I read that Groupon was putting itself up for sale. Recode, a leading tech site, announced the sale. I later learned that Groupon is now valued at just $2.4 billion.

It doesn’t make sense that a very successful and popular company suddenly starts to go sour. I often wonder why it’s so easy for an entrepreneur to start a business but not as easy to keep it going forever?

For clues to what went wrong with Groupon read Recode. Click here.

Best Prices at the Best Restaurants

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I don’t mind spending a buck. In fact, Eliot and I tend to overspend for most things we buy. By overspend, I mean that we don’t go out of our way to squeeze the seller for the best possible price on every purchase we make.

The only time I get nuts about a price is when I fly or stay at a hotel. It feels so unsettling to learn that the person sitting next to me on the airplane paid a lot less because of some deal we missed. The same thing happens when friends stay at the same hotel as we do but manage to get it at a much lower rate. I really feel cheated and it ruins my good time.

That’s why I was so excited to learn about www.savored.com, which is owned by Groupon. The site offers deep discounts on high-end restaurants across the country if you book through them. Our friends Ron and Chuck told us about this restaurant site, The last two times we went out to dinner with them, they made the reservations through the Savored website. When the check came, the tally was 30-per-cent lower than it was listed on the menu.

I was so wowed. We go out five nights a week. We could use a little help with prices. High-end restaurants love Savored because the site fills tables that would otherwise go unseated.

Savored is currently available in 10 cities: New York, Boston, Philadelphia, Washington, Atlanta, Miami, Chicago, San Francisco, Los Angeles, and Denver.

Happy dining — much cheaper!

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