Jan. 29, 2013
OpenTable Inc., a provider of online restaurant reservations, today announced that it has entered into a definitive agreement to acquire Foodspotting, an app for finding and sharing dishes at restaurants, for approximately $10 million in cash pursuant to a stock purchase agreement.
"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," said Matt Roberts, CEO of OpenTable.
Foodspotting c-founder and CEO Alexa Andrzejewski will join 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," Andrzejewski said.
The acquisition supports OpenTable's objective of enhancing diners' visual and social experiences while discovering and booking a restaurant table. As part of the merger, OpenTable recently added dish photos through a collaboration with Foodspotting.
OpenTable plans to maintain the Foodspotting site and mobile apps on a standalone basis.
The completion of the acquisition is subject to the satisfaction of customary closing conditions.
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