AmEx Adds Personalized Offers to iPhone App

Deals recommended based on spend history, location

Last year Facebook shuttered its deals business in an apparent forfeit of the market to Groupon among others. But since closing its first day of trading at $26.11 per share, Groupon’s stock has plummeted to $9.90 as of Friday’s close. And the rest of daily deal industry hasn’t fared any better; 798 deal sites didn’t survive the second half of 2011, according to Fast Company. So why is American Express doubling down on its deals business?