American Express has announced an acquisition of TheFork in an all cash deal with Tripadvisor worth $700 million. Earlier this year Tripadvisor announced it was exploring strategic alternatives for TheFork. TheFork has 50,000 restaurants across 11 European countries.
Previously American Express has acquired Resy ($200 million) & Tock ($400 million). Earlier this year American Express announced it would be rolling Tock into Resy. American Express’ dining network will now have over 75,000 bookable venues after TheFork acquisition. The acquisition is expected to close before the end of 2026 and will continue to operate under the TheFork’s existing leadership team (this makes me think that TheFork won’t be folded into Resy).
American Express recently announced that to be eligible to use Resy credits from the Platinum & Gold card restaurants would need to be indicated as ‘eligible for the Resy Credit on the Resy website or the Resy app’.
What TheFork is going on?
They bought it using Amex cards with 0% apr promo
None of this matters if Amex is going full gustapo on what resy restaurant you can use.
Gustapo is some very clever wordplay
Annual fee increasing $250/year, but you now get new benefit of up to two Euros month statement credit for a croissant at Le Vieux Pain, conviniently only 43 kilometers outside of Lyon.(just don’t forget to register in advance on TheFork)
I spend a lot of time in Europe and The Fork is a useful (but not particularly well managed) website to get good discounts on restaurant meals in big European cities. It blows my mind that this could be a $700 million business. I would think AMEX could simply duplicate it (and do a better job) for $20 million.
cough cough, there are some worth trillions, if you got the right person to sell it.
Maybe, although I think a lot of the restaurants have exclusivity agreements and not sure if there is any integration with Tripadvisor that will remain?
In related news, TheSpoon and TheKnife just announced valuations of $750M
The Spork coming in at 1.4b
TheBowl is at 2B right now.
What’s TheFork?
Is that the thing under the cork?
(Ruprecht from Dirty Rotten Scoundrels, 1988)
What TheFork?
(There. Someone had to do it)
AE is full-stack penetrating into Restaurant industry??
Front end and back end penetration. Def full stack.