A little over two months ago, OpenTable Senior Director of Consumer Marketing Scott Jampol told us that the company has served 1 million diners through its mobile products (apps and mobile Web). Now the company has announced the total has already reached 2 million.
Quantifying this further, it represents $100 million the company has driven into the doors of restaurant partners. For those unfamiliar, its model involves planting itself at the restaurant level with pay-per-action-based software that lets about 12,000 restaurant owners control the “inventory” they make available.
OpenTable’s main touch point is its Web site and online distribution partners, but mobile has been a natural extension to reach diners who are “out and about.” It will also represent a large share of the company’s product development and growth going forward, says Jampol.
In addition to this growth, the company reported strong Q4 earnings yesterday:
- Revenues were $19.2 million, a 32 percent increase year-over-year increase
- Total 2009 revenues were $68.6 million, a 23 percent year-over-year increase
- North American restaurant partners grew 17 percent for the year, now totaling 10,850
- International restaurant partners grew 44 percent to total 1,501
- Total North American diners totaled 11.8 million for the quarter, a 39 percent year-over-year increase.
OpenTable has been one of the success stories of online local verticals of the past few years … indeed one of the only tech IPOs of 2009. It looks to be well positioned for continued growth.
Come find out more at BIA/Kelsey’s Marketplaces Conference, March 22-24, where Jampol will speak.