Could recently-acquired OpenTable already have a rival to contend with? According to startup incubator Expa, this could be just the case - at least in New York City.
Information on the new venture - named Reserve - is sparse. The website is a simple landing page where you can enter your email address for a notification of when the service is released. However, Expa's Twitter account has been abuzz with teaser tweets giving just enough exposure to the brand to give it some mystery.
According to the Expa website:
Expa is a startup studio that works with founders to develop and launch new products. After 10 years of designing and building consumer services, the Expa team has identified many techniques that help create successful companies. This experience has been integrated into a platform that will increase a startup's chance of success.
Investors backing Expa ventures include serial entrepreneur Garrett Camp of StumbleUpon and Uber fame, Sir Richard Branson, Meg Whitman, and Matt Mullenweg, among others. It will be very interesting to see what kind of products and companies will benefit from this all-star cast of financiers.
With an annual revenue of just over $190M, OpenTable approved an acquistion bid on June 13th by Priceline.com at a valuation of $2.6B, a price of $103 per share. OpenTable trades on the NASDAQ under ticket OPEN.
With veteran companies like Priceline and Expedia having a strong foothold with online online travel reservations, and sites like Kayak and Booking.com pushing their way more into the consciousness of travelers, innovating with the dining reservation experience will be critical for any new startup's success in this area.
For quite some time, OpenTable has had a corner on this very market. Could 2014 be the year that we see disruption? According to Reserve, come this fall, it seems the table will be set for a whole new dining reservation experience.
Source: The Co-Founder Of Uber Is Teasing A Secret New Startup That Looks Like An OpenTable Killer | Business Insider