This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

OpenTable To Acquire Foodspotting

Stocks in this article: OPEN

SAN FRANCISCO, Jan. 29, 2013 /PRNewswire/ --  OpenTable, Inc. (NASDAQ: OPEN), 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.  

(Logo: http://photos.prnewswire.com/prnh/20110606/MM07085LOGO )

"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.  

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,433.61 +46.40 0.27%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs