August 24, 2016
Dining App Reserve Acquires Dash to Bolster Payments, Secures Investment from Diageo
April 4, 2016
Reserve, a mobile app that lets consumers reserve tables and pay at restaurants in seven major U.S. cities, has acquired Dash, a similar app, but one that also will enable Reserve to integrate with physical points of sale. Acquiring Dash will enable Reserve to add Atlanta to its roster of cities (which includes Boston, Chicago, Los Angeles, New York City, Philadelphia, San Francisco and Washington, D.C.) along with restaurants near more than 50 universities in 23 states. In addition to expanding the number of restaurants it serves, Reserve CEO Greg Hong told CardNotPresent.com that the acquisition will enhance the company’s technology and capability.
“If you look at the entire diner journey,” Hong said, “it’s everything from learning about location and menus to booking a table, to customer feedback and we always thought automatic payment was an important part of that experience.”
According to Dash CEO and Co-Founder Jeff McGregor, his company’s focus on payments and Reserve’s expertise in education and reservations made the apps very complementary and made the acquisition a natural fit.
“At Dash we were very focused on the payment piece,” McGregor told CardNotPresent.com. “One of the challenges we faced was trying to bring payments top of mind early on in the dining experience. What we found with Reserve’s platform was their ability to help on the discovery piece and the reservation piece of the process allowed them to drive significantly more mobile payments at the end of the process. So when we looked at the app we had and our focus on payments and Reserve’s ability to bring payments top of mind for people that come into the channel through reservations, it became very exciting.”
At the same time as its acquisition announcement, Reserve revealed it has secured new capital in the form of a strategic investment from Diageo, the French beverage company that owns brands like Johnnie Walker, Crown Royal, Smirnoff and Guinness. Hong said securing an investment from a company focused on a related industry will provide advantages for both companies.
Reserve did not disclose financial details of either deal.