Open Table to acquire Foodspotting
Due to some interest on Twitter, I'm posting the entire release about Open Table's pending acquisition of one of my favorite food social media sites, Foodspotting.
I didn't like the site's redesign, which complicated what started as streamlined and easy. Who knows what this new partnership will bring, but this is the company's rationale:
- "SAN FRANCISCO – January 29, 2013 – OpenTable, Inc. (NASDAQ: OPEN), a leading provider of free, real-time online restaurant reservations for diners and reservation and guest management solutions for restaurants, 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."