AXP Jun 2024 250.000 call
- Associated Press Finance
AmEx buys dining reservation company Tock from Squarespace for $400M
American Express will acquire the dining reservation and event management platform Tock from Squarespace for $400 million cash. AmEx began making acquisitions in the dining and event space with its purchase of Resy five years ago, giving cardmembers access to hard-to-get restaurants and locations. Tock, which launched in Chicago in 2014 and has been owned by Squarespace since 2021, provides reservation and table management services to roughly 7,000 restaurants and other venues.
- Bloomberg
Amex Buys Tock to Help With Hard-to-Get Dinner Reservations
(Bloomberg) -- American Express Co. agreed to acquire Tock for $400 million from Squarespace Inc., adding a service that helps customers book dining and other hard-to-get reservations at exclusive venues.Most Read from BloombergHow Long Can High Rates Last? Bond Markets Say Maybe ForeverNvidia Sales Grow So Fast That Wall Street Can’t Keep UpRussia Is Storing Up a Crime Wave When Its War on Ukraine EndsYen Is Under Pressure Even as Japan Steps Up Its Verbal WarningsCDK Hackers Want Millions in R
- Reuters
AmEx to buy restaurant booking platform Tock for $400 million
(Reuters) -American Express is buying Squarespace-owned restaurant booking platform Tock for $400 million to expand its foothold in the dining industry, a category that accounted for $100 billion in spending on its cards last year. The all-cash deal, unveiled on Friday, will build upon the credit card giant's acquisition of online restaurant reservation platform Resy in 2019. Resy helps AmEx cardholders get special access to some restaurants, including exclusive reservations, early notifications or cashback on certain bookings made through the platform.
