OpenTable

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OpenTable, Inc.
Screenshot
Type of site
Subsidiary
Traded asNasdaq: BKNG
FoundedJuly 2, 1998; 25 years ago (1998-07-02)
Headquarters
San Francisco, California
,
United States
No. of locations10 (2016)[1]
Area servedWorldwide
Founder(s)
Key people
IndustryInternet
ServicesTable reservation
RevenueIncrease US$190.05M (2013)[2]
Operating incomeIncrease US$46.429M (2013)[2]
ProfitIncrease US$33.385M (2013)[2]
Total assetsIncrease US$310.971M (2013)[2]
Total equityIncrease US$230.262M (2013)[2]
Employees1450 (2019)[2]
ParentBooking Holdings
URLopentable.com
Current statusActive

OpenTable is an online restaurant-reservation service company founded by Sid Gorham, Eric Moe and Chuck Templeton[3] on 2 July 1998 and is based in San Francisco, California.

In 1998, operations began with a limited selection of restaurants in San Francisco. Restaurants used the company's back-end software to process the reservations made on the website, resulting in a real-time reservation system for both diners and restaurants.[4] The service has since expanded to cover more than 50,000[5] restaurants in more than 80 countries.

Reservations are free to end users; the company charges restaurants flat monthly and per-reservation fees for their use of the system.[6] According to the company, it provides online reservations for more than 50,000 restaurants around the world and seats over 1 billion diners per year.[7]

On June 13, 2014, the company announced it had agreed to terms with the Priceline Group (now Booking Holdings, Inc.) to be acquired in an all-cash deal for $2.6 billion.[8]

History[edit]

OpenTable was founded by Chuck Templeton on 2 July 1998, and initially incorporated in California as easyeats.com, Inc.[9]

On 21 May 2009, the company held its initial public offering (IPO), on the NASDAQ stock exchange under the ticker symbol Nasdaq: OPEN. The underwriters of the IPO were Merrill Lynch, Allen & Company, Stifel Nicolaus, and ThinkEquity.[10]

On 1 October 2010, the company acquired Toptable, a restaurant reservation site in the UK.[11]

On 29 January 2013, the company announced that it had entered a definitive agreement to acquire Foodspotting.[12]

On 13 June 2014 the company agreed to a takeover offer by the Priceline Group of $103 a share, a 46% premium on the previous day's closing stock price. The offer valued the company at $2.6 billion. Both companies said OpenTable would continue to operate as a separate business under the same management.[13]

In August 2020, OpenTable named Debby Soo as its new CEO.[14] OpenTable And CLEAR Partner to Help Restaurants Streamline Proof Of Vaccination Requirements Across The US.[15]

Information[edit]

For users[edit]

Users search for restaurants and reservations based on such parameters as dates, times, cuisine, and price range. Users who have registered their email address with the system will then receive a confirmation email.[16] Users can also receive 100 or 1,000 points after dining that can be redeemed for discounts at member restaurants.[17]

The company also has a mobile application that allows users to find and book dinner reservations.[18][19]

For restaurants[edit]

Restaurant owners use an Electronic Reservation Book which computerizes restaurant host-stand operations and replaces existing paper reservation systems. The system handles reservation management, table management, guest recognition, and email marketing.[20]

See also[edit]

References[edit]

  1. ^ "About Us". OpenTable. Retrieved 6 October 2016.
  2. ^ a b c d e f "OpenTable, Inc., Annual Report on Form 10-K". SEC. February 21, 2014.
  3. ^ "Meal reservations online better than holding phone". OpenTable.com. August 25, 1999.
  4. ^ Davis, Robin (August 18, 1999). "What's New: Snag a Table From Cyberspace". San Francisco Chronicle.
  5. ^ "OpenTable". OpenTable.com. Retrieved January 13, 2014.
  6. ^ Leson, Nancy (August 17, 2005). "Risks and Rewards of Booking Your Table Online". The Seattle Times. Retrieved July 22, 2012.
  7. ^ "OpenTable". OpenTable.com. Retrieved February 16, 2022.
  8. ^ Fitzgerald, Drew (June 13, 2014). "Priceline Agrees to Buy OpenTable for $2.6 Billion". The Wall Street Journal. Archived from the original on January 12, 2015. Retrieved June 13, 2014.
  9. ^ Hafner, Katie (June 18, 2007). "Restaurant Reservations Go Online". The New York Times.
  10. ^ "Investor FAQs". OpenTable. Retrieved 2014-06-13.
  11. ^ Parr, Ben (September 16, 2010). "OpenTable Acquires European Competitor TopTable for $55 Million". Mashable. Retrieved July 7, 2015.
  12. ^ "OpenTable Press Release". OpenTable. 29 January 2013.
  13. ^ "Priceline books OpenTable for $2.6bn". New York Telegraph. Archived from the original on July 14, 2014. Retrieved 13 June 2014.
  14. ^ Guszkowski, Joe (August 13, 2020). "OpenTable names new CEO". Restaurant Business. Retrieved 2020-08-14.
  15. ^ "OpenTable And CLEAR Partner to Help Restaurants Streamline Proof Of Vaccination Requirements Across The US". press.opentable.com. Retrieved 2021-11-25.
  16. ^ Joseph, Scott (September 8, 2006). "Table for 2 Is a Click Away". Orlando Sentinel. p. E3. Archived from the original on October 9, 2016. Retrieved April 12, 2007.
  17. ^ Lubinger, Bill (February 21, 2007). "Need a Corner Table? Reservation at 7? Opentable Online Gets It for You Fast". The Plain Dealer. Cleveland. Archived from the original on December 12, 2007. Retrieved April 25, 2020.
  18. ^ "Open Table's Free iPhone App Finds Nearby Dining Reservations". Silicon Valley Business Journal. November 17, 2008.
  19. ^ Kumparak, Greg (September 14, 2009). "OpenTable Launches on Android". The Washington Post. Retrieved May 20, 2010.
  20. ^ "Open Table Company Profile". Businessweek. Archived from the original on March 1, 2009. Retrieved March 17, 2009.
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