OpenTable Buys Foodspotting for $10M
Foodspotting is a mobile application that allows users to share photographs of food at restaurants
OpenTable Inc. (Nasdaq: OPEN) is buying Foodspotting, a mobile application used to find and share dishes at restaurants, for $10 million in cash.
OpenTable allows users to make online restaurant reservations. The company plans to integrate Foodspotting’s images of dishes at restaurants to help diners decide where to eat. OpenTable also plans to integrate Foodspotting’s social sharing technology into the company.
OpenTable recently added food photos through a collaboration with Foodspotting.
The deal is the latest course in food-related M&A. Google Inc. (Nasdaq: GOOG) bought Zagat in September 2011 for $200 million. In October 2011, online and mobile food ordering service Seamless agreed to buy MenuPages.
OpenTable acquired Toptable.com, a U.K.-based restaurant reservation site, for $55 million in September 2010.
For More, see "IPO Insight: Time for Yelp to Dine Out on Acquisitions."
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