Last week FishbowlNY told you about The New York Times preparing its group coupon service, TimesLimited, and yesterday – between forwards from our friends that based their entire comedic value on animals doing human things – we received an email that the service has officially launched.

Like you, we have some questions about TimesLimited, starting with: Why now? It seems a little late for the paper to be launching a group service, with sites like Groupon – and to a lesser extent, LivingSocial – already commanding much of the market.

Eileen Murphy, Vice President, Corporate Communications, for the Times, tells FishbowlNY that the paper feels quite differently. “We think the time is right for this.  We’ve had success with our existing email based advertising programs like Sophisticated Shopper and Great Getaways and think this endeavor is timed perfectly.  It’s a natural extension for the Times; we have the assets, the consumer reach and the relationships with advertisers”

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The New York Times Company is getting in on the group deals trend by launching TimesLimited, an email service that sends participating people deals each day.

People can sign up now, but the service won’t begin until later this month, according to Mashable.

As you can see from the picture on the TimesLimited website, the deals will cater to the those with expensive tastes.

So when you’re searching for deals on four star restaurants, look for your TimesLimited email. When you’re just trying to save 50 cents on a twelve pack of canned tuna, better check out Groupon.