[ad_1]
American Express announced today its intention to acquire Resy, the New York based reservation and relationship management platform. The terms of the agreement have not been disclosed.
Resy launched in 2014 as a platform for users to purchase restaurant reservations in situations where they typically had to book months in advance. For restaurants, this allowed them to unload unused stocks.
Over time, Resy realized the opportunity to provide software to restaurants. About a year ago, the company unveiled a new suite of tools for partner restaurants, including Resy Fly, Business Intelligence and Resy Surveys.
Resy Fly uses data to help restaurants understand how to manage their inventory, looking at signals such as date, time, weather, and the average time spent eating at a restaurant. By using this data, restaurants can be more agile in the way they offer their bookings and tables on an ongoing basis.
Business Intelligence allows restaurants to view information such as performance indicators, revenue, and ratings from third-party sources such as Foursquare. In the same vein, Resy Surveys offers restaurants a simple way to send surveys to existing customers to learn more about what they want.
In November, Resy acquired its smallest competitor, Reserve for an undisclosed amount. Following the acquisition, Resy now serves approximately 4,000 restaurants across the United States and, through partnerships with other booking platforms, serves 10,000 restaurants worldwide.
The Amex Agreement will allow American Express to offer cardholders additional benefits and experiences that are not your usual points and rewards.
"Five years ago, we decided to change the way the restaurant industry envisioned technology," said Ben Levanthal, co-founder and CEO of Resy. "We have focused on providing world-class hospitality software, exciting dinners with incredible access and experiences in great restaurants, and the imagination and construction of restaurant technology. This is what we think about every day and we believe that our membership in Amex will give us the opportunity to go through these fundamentals with greater breadth and deeper resources. This is a decisive moment for the hospitality industry, as we bring together the collective resources of American Express and Resy. "
According to Crunchbase, Resy has raised a total of $ 15 million from investors such as Vayner CSR, Lerer Hippeau Ventures and Airbnb. Resy says his full staff of full-time and part-time employees, including co-founder and CTO Michael Montero and co-founder and CEO Ben Levanthal, will join Amex. The company also claims that the brand name Resy will live.
American Express has just made a little shopping trip. In March, the company announced that it would buy LoungeBuddy to make the travel experience less infernal for cardholders. Amex also acquired a Japanese restaurant platform called Pocket Concierge in January. Last year, Amex also discreetly bought Cake, a UK-based fintech catering company, for $ 13.3 million.
"Resy is a company we have always admired at American Express and with whom we have always wanted to partner," said Chris Cracchiolo, Executive Vice President of Global Loyalty and Benefits at American Express. "In just 5 years, Resy has become an essential part of consumer and restaurant dining experiences, connecting customers with the most sought-after restaurants around the world and helping your partners grow. They share our passion for catering and our commitment to helping restaurants thrive. "
[ad_2]
Source link