Yahoo on Monday launched what it claims is the first website to provide daily deals, online coupons, grocery coupons, local coupons, store circulars, and exclusive deals all in one place. Dubbed 'Yahoo! Deals," the new portal also integrates social and community features, as well as videos offering tips on how to save money.

"Frugality is the new 'cool,'" said Greg Hintz, head of Yahoo! Shopping. "We now know that couponing and bargain hunting are losing their stigma and are now a regular habit for many people. Our goal at Yahoo! is to be the center of people's online lives and we're making Yahoo! the easiest place for consumers to find and manage the coupons and deals that are relevant to their lives."

Some of the features on Yahoo! Deals include a gas finder module that helps users find the cheapest gas by zip code, improved search functions to help users find deals from across the site, offers for local chain and neighborhood restaurants, retailers, and service providers provided by Valpak, and exclusive deals from partners like TechBargains.com, LogicBUY, CouponAlbum, and others.

To kick off the new site, Yahoo will be giving away to $20,000 as part of its Purple Piggy Bank Giveaway. The contest will be open through September 7, 2009.