OpenTable, a provider of online restaurant reservations is to acquire Foodspotting, an app for finding and sharing great dishes at restaurants, for approximately $10 million in cash pursuant to a stock purchase agreement. The completion of the acquisition is subject to the satisfaction of customary closing conditions.
OpenTable, the world’s leading provider of online restaurant reservations, today announced that it has entered into a definitive agreement to acquire Foodspotting, an app for finding and sharing great dishes at restaurants, for approximately $10 million in cash pursuant to a stock purchase agreement. The completion of the acquisition is subject to the satisfaction of customary closing conditions.
“We’re proud to welcome the talented Foodspotting team to the OpenTable family,” said Matt Roberts, Chief Executive Officer of OpenTable. “The Foodspotting team is as passionate about dining as we are, and we’re looking forward to leveraging their unique expertise in the areas of imagery and social sharing to enrich the OpenTable experience for diners and restaurants in new and exciting ways. By adding more visually compelling content to help people decide where to dine and discover dishes they’ll love, we hope to make it even easier to find the perfect table for any occasion.”
“We’re so happy to have found a home for Foodspotting where our community can continue to thrive while our entire team continues to focus on creating great dining experiences,” said Alexa Andrzejewski, Co-founder and Chief Executive Officer of Foodspotting, who will be joining OpenTable as a lead user interface designer. “While working with OpenTable as partners we realized we could create more intelligent, Seamless and beautiful experiences if we had the opportunity to integrate our products more deeply. We look forward to contributing our mobile, social and design expertise in ways that will delight both diners and restaurants.”
By enabling OpenTable to deliver a richer visual and social experience for diners and provide its restaurant customers with new opportunities to showcase their offerings, the acquisition supports the Company’s focus on continuing to enhance the ways it helps diners discover and book the perfect restaurant table. OpenTable recently added dish photos through a collaboration with Foodspotting, giving diners a small taste of the kind of enhancements that will be coming once the Foodspotting team is on board. In addition to welcoming the Foodspotting team to OpenTable, the Company plans to maintain the Foodspotting site and mobile apps on a standalone basis.
About OpenTable, Inc.
OpenTable is the world’s leading provider of online restaurant reservations, seating approximately 10 million diners per month via online bookings across more than 26,000 restaurants. The OpenTable network connects restaurants and diners, helping diners discover and book the perfect table and helping restaurants deliver personalized hospitality to keep guests coming back. The OpenTable service enables diners to see which restaurants have available tables, select a restaurant based on verified diner reviews, menus and other helpful information, and easily book a reservation. In addition to the company’s website and mobile apps, OpenTable powers online reservations for nearly 600 partners, including many of the Internet’s most popular global and local brands. For restaurants, the OpenTable hospitality solutions enable them to manage their reservation book, streamline their operations and enhance their service levels. Since its inception in 1998, OpenTable has seated more than 385 million diners around the world. The Company is headquartered in San Francisco, California, and the OpenTable service is available throughout the United States, as well as in Canada, Germany, Japan, Mexico and the UK. OpenTable also owns and operates toptable, the leading consumer destination site for restaurant reservations in the UK.
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