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OpenTable

OpenTable is an online restaurant-reservation service company founded by Sid Gorham, Eric Moe and Chuck Templeton[3] on July 2, 1998, and 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 55,000[5] restaurants in more than 80 countries as of 2024.[6] In June 2014, the company was acquired by Priceline Group for $2.6 billion.

Reservations are free to end users; the company charges restaurants flat monthly and per-reservation fees for their use of the system.[7] 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.[8]

History

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

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

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

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

On June 13, 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]

In 2024, OpenTable signed a partnership deal with Visa that gives certain cardholders access to reservation slots at popular restaurants.[15]

Information

For users

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]

In April 2024, the company announced a policy change under which anonymous reviews will no longer be allowed beginning May 22. All reviews will display the user's display photo and first name at a minimum, and all existing reviews will be retroactively deanonymized to meet this standard.[20] After receiving significant pushback, OpenTable quickly announced that it would not apply the new policy retroactively, leaving previous reviews anonymous. The start of the new policy was also pushed back to later in the year.[21]

For restaurants

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.[22]

See also

  • List of companies based in San Francisco
  • List of websites about food and drink
  • Eveve, restaurant reservation system company

External links

References

  1. OpenTable, Inc., Annual Report on Form 10-K SEC, February 21, 2014^
  2. About Us OpenTable, retrieved 6 October 2016^
  3. Meal reservations online better than holding phone OpenTable.com, August 25, 1999^
  4. Robin Davis. What's New: Snag a Table From Cyberspace San Francisco Chronicle, August 18, 1999^
  5. OpenTable OpenTable.com, retrieved January 13, 2014^
  6. As American Express Acquires Tock, Who’s Winning the Reservation Wars?^
  7. Nancy Leson. Risks and Rewards of Booking Your Table Online The Seattle Times, August 17, 2005, retrieved July 22, 2012^
  8. OpenTable OpenTable.com, retrieved February 16, 2022^
  9. Katie Hafner. Restaurant Reservations Go Online The New York Times, June 18, 2007^
  10. Investor FAQs OpenTable, retrieved 2014-06-13^
  11. Ben Parr. OpenTable Acquires European Competitor TopTable for $55 Million Mashable, September 16, 2010, retrieved July 7, 2015^
  12. OpenTable Press Release OpenTable, 29 January 2013^
  13. Priceline books OpenTable for $2.6bn New York Telegraph, retrieved 13 June 2014^
  14. Joe Guszkowski. OpenTable names new CEO Restaurant Business, August 13, 2020, retrieved 2020-08-14^
  15. The Five-Figure Reason Hot Restaurants Are Moving to OpenTable Priya Krishna, New York Times, May 14, 2025^
  16. Scott Joseph. Table for 2 Is a Click Away Orlando Sentinel, September 8, 2006, retrieved April 12, 2007^
  17. Bill Lubinger. Need a Corner Table? Reservation at 7? Opentable Online Gets It for You Fast The Plain Dealer, February 21, 2007, retrieved April 25, 2020^
  18. Open Table's Free iPhone App Finds Nearby Dining Reservations Silicon Valley Business Journal, November 17, 2008^
  19. Greg Kumparak. OpenTable Launches on Android The Washington Post, September 14, 2009, retrieved May 20, 2010^
  20. Your anonymous OpenTable reviews will soon display your first name Engadget, 2024-04-12, retrieved 2024-04-12^
  21. Joe Hindy. OpenTable Backtracks, Won't Add Real Names to Old Reviews PCMAG, April 14, 2024, retrieved 2024-04-14^
  22. Open Table Company Profile Businessweek, retrieved March 17, 2009^