Yelp acquired SeatMe, an online reservation service, for US$12.7 million. SeatMe will compete with OpenTable in the restaurant reservation scene. The acquisition was paid with cash worth US$2.2 million and 263,000 shares of common stock.
SeatMe will help Yelp build its own reservation system. This will include the expansion of its time-slotting offerings to now include night clubs, spas, dentists, and salons. Yelp used to offer reservation for restaurants and night clubs only.
"How does this change your SeatMe service? It doesn't. We will continue to provide the same great product and service that we hope you've come to love and rely on," according to an email SeatMe sent to its current customers.
SeatMe provided a web app. The app lets restaurant owners add an online reservation system. This system could be integrated to the restaurant's own site or on its Facebook page. SeatMe also has an iPad app. The app helped in table management while the host/hostess of the restaurant was "on the fly." Other features of the app included flagging known allergens and seating preference of a returning customer and texting customers whose table was ready.
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