Such the deal!
- The CTA gets rid of 250,000 three-day passes in its inventory for almost $1.882 million in immediate cash from Groupon.
- Groupon buys each pass for $7.53 apiece and sells them for $9 each.
- Riders can buy the pass that usually costs $14 from the CTA for just $9 from Groupon.
That's what you call a win-win-win.
This deal with the CTA marks the first time Chicago-based Groupon has partnered with any transit agency to sell fare media. And of course, our mayor loves it:
"This innovative deal is exciting in many ways," said Mayor Rahm Emanuel. "It will generate nearly $2 million of immediate additional revenue for CTA, it will introduce and attract new potential customers to CTA, and is an innovative example of the government and business community working together to benefit the entire city."
Groupon customers will be able to buy up to four passes each. I'll bet the CTA is hoping visitors buy the passes, and maybe don't use them to their full potential.
But smart regular riders who don't buy monthly passes should snap up this deal. If they transfer from a train to a bus on their daily commute, they stand to save $5.25 over three days. That will buy a cup of coffee on two of those days.
So, way to go CTA, and go get those discounted passes, CTA riders.