OpenTable (OPEN) provides software solutions to restaurants through its reservation management tools. The Company operates a network that matches diners with restaurants, and facilitates the reservation process electronically. OpenTable sat over 113 million diners in 2012, and has partnerships with approximately 24,000 restaurants. The Company utilizes the following business model:
- Installation and subscription of its hardware and software. Its most popular bundle is $249/month per restaurant
- Fee per seated diner. If the diner is sourced from OpenTable's website or mobile platform, the restaurant pays OpenTable $1 per diner. If sourced through the restaurant's website, OpenTable receives $0.25. OpenTable also has a newer program that sits diners during off peak hours, for which it charges $7.50 per
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