Open table pdf

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Open table pdf

  1. 1. OpenTable, Inc. Stephen Woodruff
  2. 2. Background Online, real-time restaurant reservation service! Get reservation from computer, tablet, or phone! Over 25,000 restaurants in the U.S.! Expanding to large international cities! Served 490 million diners! Free to end users! 90% market share
  3. 3. History Founded in 1998 by Chuck Templeton! 550 employees! 3 series of funding! Series A: $2M (1999)! Series B: $10M (2000)! Series C: $36M (2000)
  4. 4. OpenTable App Available on: iOS, Android, Windows Phone, BlackBerry
  5. 5. Financials (NASDAQ: OPEN) IPO in 2009! Share price: $20! Quarterly results released yesterday! 23% ↑ restaurants! Currently: $80! Gross profit! 2010: $59 Million! 2011: $85 Million! 2012: $105 Million 30% ↑ reservations! ↑ reservations per restaurant! Recently acquired two companies! Foodspotting ($10M)! JustChalo ($11M)
  6. 6. What’s Hot? Convenience of getting a reservation! No phone call, just a couple taps on your phone
  7. 7. Secret Sauce One of the first companies to connect consumers with restaurants on the internet! Spotlight! Groupon like daily deal service! “Deals for meals”! Typically, $50 worth of food and beverage for $25 ! DiningReward points! 100 points per reservation (sometimes 1,000 points)! 2,000 points = $20 OpenTable Dining Cheque
  8. 8. Competitors
  9. 9. Prediction Will still control market but competitors are growing! Startup NoWait taking casual dining business! Image?! Users upset that their negative reviews don't get published! Lots of restaurants have inflated rating! Expensive for restaurant owners! Setup fee + monthly subscription + cover fee + web access fee +contract + cancellation fee! $1,295 hardware fee & average $635 a month! SeatMe: $99 a month! NoWait: Free - $199 a month

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