Resy

Resy offers a technology platform for the hospitality industry, functioning as a global dining network under the umbrella of American Express. The company was established in 2014 by a team with deep roots in the food, media, and technology sectors: Ben Leventhal, co-founder of the food news site Eater.com; Michael Montero, a serial entrepreneur and CTO who co-founded CrowdTwist and Fotolog; and entrepreneur Gary Vaynerchuk. Leventhal's background in digital food media and Montero's extensive engineering experience formed the foundation of Resy's product, aiming to create a robust technology partner for restaurants. The venture's trajectory includes raising $13 million in a 2017 funding round with participation from Airbnb and First Data Corporation, acquiring the competitor Reserve in 2018, and ultimately being acquired by American Express in 2019.

The business operates on a dual-sided model, serving both restaurants and diners. For its restaurant clients, Resy provides a subscription-based software-as-a-service (SaaS) platform called ResyOS. This cloud-based system is a comprehensive management tool that handles reservations, waitlists, table management, and customer relationship management (CRM). Key features include inventory optimization, POS integration, guest communication via two-way texting, and data analytics to provide insights into dining history and preferences. Revenue is generated through tiered monthly subscription fees, with plans starting from a basic package to a full-stack enterprise solution for multi-location groups. This model contrasts with competitors by avoiding per-diner booking fees for standard reservations.

For diners, Resy offers a discovery and booking platform through its content-rich website and mobile app. Users can find and book tables, receive notifications for availability at in-demand restaurants through the "Notify" feature, and access curated dining guides and exclusive culinary events. The acquisition by American Express enhanced this value proposition by integrating special access and benefits for Card Members, such as early access to reservations and events. This synergy aims to connect high-value diners with Resy's network of restaurants, creating a more engaged and valuable ecosystem for both sides of the market.

Keywords: restaurant technology, reservation platform, hospitality management, dining network, table management, guest experience, CRM, American Express, SaaS, restaurant operations