American Express announced today it plans to acquire Resy, a restaurant reservations and management platform. Terms of the deal were not disclosed. The acquisition is expected to be completed in summer 2019.
Over the last couple years, Resy has made it clear it wants to be much more than a restaurant reservation system. When the company launched, it made a name for itself through its system that streamlined the process of booking a table at high-profile restaurants, where reservations usually require quite a bit of planning. Then, in April 2018, the NYC-based company released several new products aimed at other aspects of the customer experience, including ResySurveys, which allow restaurants to offer customized surveys to diners after the meal, and a loyalty program called ResySelect.
Since then, Resy has released software that helps manage back-of-house operations, too, including inventory management and analytics. It has also expanded its network of global partners so that the Resy platform integrates with the likes of Airbnb, Instagram, and Facebook, and gives users access to some of the top restaurants around the globe. Resy acquired its main competitor, Reserve, in November 2018.
For Amex, the acquisition is way for the the credit card company to continue building out its collection of digital benefits for cardholders, which include access to restaurants and hotels, as well as exclusive events.
According to the press release, business will continue as usual for Resy for the time being. Resy’s cofounder and CEO Ben Leventhal will continue to lead the company, and existing products will continue to be available. Employees will keep their current jobs.
Resy has at this point raised a total of $15 million, according to Crunchbase.