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Yahoo sees itself as daily-deals power broker

Still trying to find new business ventures that will help it regain its lost glory, Yahoo announces it will launch a product to aggregate the Groupons of the world.

SAN FRANCISCO--The company hasn't said much about it yet, but Yahoo today announced that it will be diving into the hyped daily-deals market with a "Local Offers" program that aggregates content from the likes of Groupon and LivingSocial.

The announcement--made in conjunction with the Web 2.0 Summit conference where CEO Carol Bartz is slated to speak later in the day--explained that the former search giant, still trying to figure out a sense of direction, plans to build "one of the largest and most comprehensive repositories of local offers on the Internet." It's launching in a limited beta in the U.S. Yahoo already offers its own Yahoo Deals service, but this will bring in 20 partners at first (and more to come), including Groupon, LivingSocial, HomeRun, Tippr, and Gilt's Gilt City.

The structure of Yahoo Local Offers isn't entirely clear, but it'll likely be in the vein of the start-up companies like Yipit and The Dealmap that have already popped up to aggregate local deals. It's also unclear how Yahoo's plans will take into account the fact that local deals are taking a turn for the mobile, thanks to Facebook's recent announcement of business deals worked into Facebook Places, and the rise of deals and offers on start-ups like Foursquare.

There have been reports that Yahoo has tried (thus far, unsuccessfully) to acquire deals market leader Groupon.