OpenTable.com Announces $ 10 Million in Financing Led By Impact Venture Partners and Benchmark Capital
Investment Reaffirms Company's Position as Online Reservation Leader and Pioneer in Internet-Connected Restaurant Management Tools
SAN FRANCISCO / Jan. 4, 2000--
The funding will fuel OpenTable.com's rapid nationwide expansion, and furthers the company's position as the leading provider of online restaurant reservations. OpenTable.com's real-time reservation system links diners to open tables at fine dining establishments in major cities around the country at www.opentable.com.
"We're thrilled to have top venture capital funds on both the East and West coasts supporting our expansion," said Chuck Templeton, OpenTable.com president and CEO.
"In addition to the capital infusion, we're excited to establish relationships with two of today's most highly respected Internet investors. We're looking forward to working with them to bring the advantages of real-time, online reservations to diners and restaurateurs around the country."
OpenTable.com currently offers real-time reservations in the San Francisco Bay Area, Seattle, Chicago and New York, and is opening offices in Boston, Washington D.C., and Los Angeles. The company will continue to expand their restaurant reservation network nationwide in the year 2000.
"OpenTable.com is poised for some very exciting things in the coming year," said Adam Dell, managing general partner at New York-based Impact Venture Partners. "The company is the only one that has successfully demonstrated an ability to build and maintain an infrastructure that is fundamentally changing the reservation experience and harnessing the power of the Internet for restaurants. We're pleased to play a part in their current and future success."
"OpenTable.com is the undisputed leader in the automated reservation space," said Bill Gurley, general partner at Benchmark Capital. "They have the best product, the most momentum, and the best team. In these markets first mover advantage is extremely important, and it appears that OpenTable.com is in fact increasing its lead."
OpenTable.com, Inc. is building a network of the world's finest restaurants and their patrons. The company's Internet-connected electronic reservation book (ERB) harnesses the power of the Internet for restaurants – enabling enhanced customer service and revolutionary marketing capabilities – while giving diners free online access to available reservations twenty-four hours a day, seven days a week.
Founded in 1998 by Chuck Templeton, OpenTable.com has partnered with restaurants from American Restaurant Group, Ark Restaurants Corp., California Cafe Restaurant Corp., the Lark Creek Group, Lettuce Entertain You Enterprises, Inc., and the Real Restaurant Group.
OpenTable.com is based in San Francisco, and has offices in Boston, Chicago, Los Angeles, New York, Seattle, and Washington, D.C. For more information about OpenTable.com or its online restaurant reservation network visit www.opentable.com or call 877/327-9328.
About Impact Venture Partners
Impact Venture Partners is a New York-based Venture Capital Firm that invests in companies who are redefining consumer and business commerce and the management of information technology for the 21st Century. Founded by Adam R. Dell, Impact invests in promising, early-stage Internet organizations; specifically ASP, Internet and E-Business, and Content Infrastructure Companies.
More information about Impact is available online at or by calling 212/372-8732.
About Benchmark Capital
At Benchmark Capital, the company's mission is to help talented entrepreneurs build great technology companies. The company's past investments include eBay, Webvan Group, Planet Rx, and Red Hat Software.
For more information, visit the company's website at , or call the Menlo Park, Calif. offices at 650/854-8180.
415/551-1510 x. 249