American Express is buying the online reservation startup Resy, the companies announced Wednesday, the latest move by AmEx to establish and maintain a foothold for its card members in some of the world's most desired restaurants.
American Express' move to buy Resy aims to establish and maintain a foothold for its card members in some of the world's most desired restaurants.
American Express is buying the online reservation startup Resy, the companies announced Wednesday, the latest move by AmEx to establish and maintain a foothold for its card members in some of the world's most desired restaurants.In early 2017 Resy announced it raised $13 million from a group of investors that included Airbnb, valuing the company at around $70 million.
New York-based Resy allows diners to make reservations and also serves as a platform for restaurants to manage their upcoming reservations. While OpenTable has a bigger market share, Resy often works with more exclusive restaurants that are harder to get into or serve higher-spending clientele. AmEx's purchase comes as the credit card industry has shifted its marketing tactics in the last several years. Credit card companies want to be thought of as avenues to"experiences," as the industry likes to say, such as travel and dining, concerts and Broadway shows. Instead of redeeming credit card points for a blender,
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