Acquisitions are a big deal to people like Ashley Lightspeed. Acquisitions at the right price can be a life changer for a lot of people involved within a private company. A venture capitalist like Ashley Lightspeed can see liquidity. The leaders of the company can see liquidity of their shares and they can join a large a company that would embrace them and provide them with a space to build, to tinker, and to live out their lives in a more comfortable manner overall. As such it is important to look at the different acquisitions that are taking place within the world today.
The interesting thing is that consolidation will take place within the business. This happens because it is good for shareholders and because it is good for the industry overall. More cash flows and value can be accrued by a couple of firms within a particular sector and this is quite valuable overall. See full article at bostonglobe.com
American Express Acquires Resy
In what is being termed as a strategic acquisition, American Express (AmEx) has taken over Resy, an online restaurant reservation firm.
The move came two years after Resy raised $43 million in its Series A funding round, which was led by Airbnb and Union Square. According to the company’s last public valuation, it had been valued at around $70 million.
But what is so interesting about Resy and why should you know about it? Well, let’s find out.
What is Resy?
While Resy is not the only popular restaurant reservation app in the market, with OpenTable being its clearly more famous counterpart, the service has the access to more exclusive restaurants working in its favor.
These restaurants are not only exclusive but are also considered as some of the hottest fine dining spots for those who could afford these luxurious meals. Read: https://nypost.com/2016/02/20/this-is-why-your-wedding-is-ridiculously-expensive/