Groupon announced the acquisition of Breadcrumb, in a company blog post, yesterday.
We are excited to announce that Groupon has acquired Breadcrumb! The team behind Breadcrumb shares our passion to build affordable and intuitive products that make it easier for local merchants to manage their business. We’re thrilled to welcome founder Seth Harris and his team to the Groupon family
Breadcrumb is a restaurant Point of Sale App that works on the iPad and comes with a small card reader peripheral that plugs directly into the side of the device. Groupon announced that they will be offering this product/service to their existing merchant partners. Restaurant's that are current or future partners will have the ability to make Groupon redemption an easier process.
New York Based Start-up Breadcrumb makes it easier for restaurants to lower prices and keep the same profit margins. It helps cut down prices on POS systems, which are astronomical. It may also help to encourage more entrepreneurs to start a business. The high risk involved in opening a restaurant may be offset by lowered start-up cost to some people.
AllThingsDitigal is reporting that Groupon paid between $10 and $15 million for the company, before retention bonuses. Breadcrumb was founded just last year, and has less than 10 employees.