OpenTable Acquires Foodspotting App in $10M Deal
OpenTable (NASDAQ:OPEN) announced Tuesday that it agreed to buy Foodspotting, an application that features particular dishes at restaurants, for $10 million.
The San Francisco-based company, which provides online reservations for over 26,000 restaurants, said it will leverage Foodspotting’s social sharing feature. The acquisition will allow OpenTable’s restaurant customers to showcase their offerings.
OpenTable already had a partnership with Foodspotting to use images of restaurant dishes, a collaboration the company said is representative of future integration. OpenTable added that it plans to maintain the Foodspotting site and mobile apps.
“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,” Matt Roberts, chief executive of OpenTable, said in a statement.
Shares of OpenTable fell 65 cents, or 1.2%, to $53.73 Tuesday morning.