OpenTable, Inc.Stephen Woodruff

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

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)

Available on: iOS, Android, Windows Phone, BlackBerry

OpenTable App

Financials (NASDAQ: OPEN)

IPO in 2009!

Share price: $20!

Currently: $80!

Gross profit!

2010: $59 Million!

2011: $85 Million!

2012: $105 Million

Quarterly results released yesterday!

23% ↑ restaurants!

30% ↑ reservations!

↑ reservations per restaurant!

Recently acquired two companies!

Foodspotting ($10M)!

JustChalo ($11M)

What’s Hot?

Convenience of getting a reservation!

No phone call, just a couple taps on your phone

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

Competitors

PredictionWill 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