American Express (NYSE: AXP), a globally integrated payments company, is to acquire Resy, a New York City-based provider of a digital restaurant reservation booking and management platform.
The amount of the deal – expected to be completed in summer 2019 – was not dislcosed.
The acquisition will build on American Express’ suite of digital-first benefits and services that extend beyond traditional rewards and points, to provide Card Members with access and experiences across travel and lodging, airport lounges, exclusive events, and dining.
Founded in 2014 by CEO Ben Leventhal, Resy offers a table management, CRM and booking technology suite for restaurants, with a consumer-facing restaurant reservation app and website to elevate and enhance dining experiences worldwide. Resy currently works with approximately 4,000 restaurants in 154 U.S. cities and 10 countries, seating more than 2.6 million diners a week.
Investors and partners include Airbnb, RSE Ventures, First Data, Lerer Hippeau Ventures, Slow Ventures, TOMS Capital and Union Square Hospitality Group.
After the acquisition, the Resy brand and digital platform will continue to be led and operated by Leventhal. Resy’s co-founder and CTO, Michael Montero, will also remain in place. Additionally, existing Resy reservation booking and management services and capabilities will continue to be offered.
The company was also founded by Gary Vaynerchuk, noted social media expert, entrepreneur and investor.
American Express is also working with recently acquired companies, including:
- personal travel assistant app Mezi,
- UK dining reservation platform Cake Technologies,
- airport lounge discovery and booking platform LoungeBuddy, and
- Japanese premium restaurant reservation platform Pocket Concierge,
to develop a suite of new digital capabilities that will provide new digital services, experiences, and access for American Express customers.
FinSMEs
16/05/2019