Profile: OpenTable Inc (OPEN.OQ)

OPEN.OQ on NASDAQ Stock Exchange Global Select Market

69.40USD
1 Aug 2013
Price Change (% chg)

$5.72 (+8.98%)
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OpenTable, Inc. (OpenTable), incorporated on October 13, 1998, provides solution that forms an online network connecting reservation-taking restaurants and people who dine at those restaurants. Its solutions include its electronic reservation book (ERB) and and OpenTable Connect (Connect). Its solutions for diners include www.opentable.com, its restaurant reservation Website, as well as a range of mobile applications. The OpenTable network includes approximately 20,000 OpenTable restaurant customers spanning all 50 states, as well as select markets outside of the United States. During the year ended December 31, 2010, it seated approximately 6.5 million diners per month. On October 1, 2010, the Company acquired toptable.com (toptable), a restaurant reservation site in the United Kingdom. In August 2010, the Company acquired Table Maestro, a South Carolina based company that operates a telephone reservation management service for restaurants. In June 2013, OpenTable Inc acquired JustChalo Inc. In July 2013, the Company announced that it has acquired Rezbook, Urbanspoon's reservation management system for restaurants.

Restaurant Software and Hardware and Related Solutions

The ERB is an integrated solution consisting of OpenTable software that is installed on a dedicated, touchscreen computer system at the restaurant's host stand and supported by various asset-protection and security tools. The ERB supports reservation management, table and floor management, guest management, marketing and a number of other business processes. The software is built on a foundation that supports rapid translation into local languages.

The Company provides on-site installation, training and, as part of its monthly subscription fee, around-the-clock customer support for the ERB. The Company monitors Internet connectivity to the ERB, alerting restaurants when they are offline and working with them to resolve any problems it detects. The Company also provides data protection services, including managing firewalls and virus scanning software on all computers on its network to protect restaurants from harmful intrusions and performing nightly backups of each restaurant's database to prevent data loss in the event of a hardware failure.

The Company’s restaurant customers also receive a hardware replacement, populated with the restaurant's backed-up data, in the event of a computer failure, and software upgrades and updates, which are deployed automatically via the Internet to each ERB. The Company also offers Connect, a Web-based service that enables restaurants to accept online reservations from the OpenTable network, as well as through its mobile applications and from the restaurants' own Websites. Its restaurant customers log in to connect to specify available tables by time and party size. New reservations may be conveyed to the restaurant via email, Short Message Service (SMS) text message and the restaurant's Connect account.

OpenTable Website

The Company designs, builds and operates the OpenTable Website in North America and the United Kingdom, as well as Websites localized for Germany and Japan. Its system is a real-time reservation system with a patent pending on its high-speed inventory tracking and search technology. The OpenTable Website maintains around-the-clock communications with restaurants on its online reservation network. As a result, any change made at the restaurant to the table inventory that affects the OpenTable Website is updated on the Website in real time, and diners using the Website get current inventory information on every search request, typically within a few seconds.

Mobile Solutions

The Company also offers a version of the OpenTable Website for use on mobile devices, as well as free mobile applications for use on Android, Blackberry, iPad, iPhone, Nokia, Palm webOS, and Windows Phone smartphones. These mobile applications leverage the OpenTable network to enable diners on-the-go to view real-time table availability at restaurants in their vicinity and book free, confirmed reservations. As of December 31, 2010, more than 7,000,000 diners have been seated through reservations booked via OpenTable mobile applications.

Restaurant Marketing Products

The Company offers its restaurant customers additional services to help fill more seats in their dining rooms. Its POP program lets restaurants offer diners bonus dining reward points for reservations at select times. Participating restaurants pay a premium per-seated-diner fee for POP reservations. For restaurants with banquet spaces, it offers listings on its Private Dining directories. Additionally, restaurants may participate in its Spotlight program, in which the Company promotes discounted dining coupons from local restaurants for sale to OpenTable diners. OpenTable shares revenue from coupon sales with the participating restaurant.

toptable.com

The Company operates the toptable Website in the United Kingdom and various other international locations. In addition, it offers a version of the toptable Website for the use on mobile devices, as well as a free mobile application for use on the iPhone.

OTRestaurant.com

The Company designs, builds and operates the OTRestaurant Website, which serves as an information and services portal for OpenTable restaurant customers. The Website provides restaurant customers with secure access to client-specific materials, including detailed online reservation reports, online invoicing and feedback forms from recent diners. In addition, a restaurant can visit the OTRestaurant Website to learn about upcoming OpenTable promotions, submit date-specific information, such as Valentine's Day menus and update the profile information displayed on the OpenTable Website, such as restaurant description and hours of operation. The OTRestaurant Website serves as a two-way communication channel between the Company and its restaurant customers.

Company Address

OpenTable Inc

4th Floor, 799 Market Street
SAN FRANCISCO   CA   94103
P: +1415.3444200
F: +1302.6555049

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