Tripadvisor Inc (TRIP) acquires restaurant reservation service LaFourchette
Tripadvisor Inc (NASDAQ:TRIP) has acquired European restaurant reservation service LaFourchette, which is considered the “OpenTable of France.” LaFourchette and TripAdvisor were already partners for a while. The terms of the deal were undisclosed. Sources with TechCrunch peg the deal at being worth around $140 million (€100 million) in an all cash deal. LaFourchette raised around $15 million in VC funding prior to the acquisition.
LaFourchette operates under LaFourchette in France, Eltenedor in Latin American countries, and TheFork in England. LaFourchette offers an online and mobile reservation platform for restaurants in France, Spain and Switzerland. The company works with a network of over 12,000 restaurant partners.
LaFourchette offers consumer-facing apps, APIs to third-party developers, and software to help restaurants go online. LaFourchette has customer relationships with a number of restaurants, which will enable TripAdvisor to strengthen its existing restaurant offering. LaFourchette has been profitable since 2013.
“We look forward to welcoming LaFourchette to the TripAdvisor family,” stated TripAdvisor president and CEO Stephen Kaufer. “Lafourchette has an unparalleled network across Europe and has developed strong relationships with its restaurant partners. As a global company, we look forward to strengthening the lafourchette brand and working together to enhance the TripAdvisor restaurant offering for users.”
LaFourchette and its existing employees will continue to be based at the company headquarters in Paris and Barcelona.