Restaurant reservation and meal payment app maker Reserve announced it had purchased Santa Monica restaurant payment app company Hail Pay for an undisclosed amount.
Hail Pay was still being privately tested, but Reserve Chief Executive Greg Hong said the company’s group check splitting feature was impressive enough to make the deal worthwhile.
“Check splitting for us is probably the most requested feature,” said Hong. “They had an existing provisional patent that we saw some value in and ultimately we are going to be continuing to file that under Reserve.”
Reserve, based in New York, aims to be an all-encompassing restaurant app: an eatery directory, reservation booker, meal payment platform and rating service. The addition of Hail Pay’s check splitting feature was seen as a way to distinguish itself in an already crowded field of restaurant apps.
“We feel like the only player in the space that is doing all aspects,” said Hong. “That is the key differentiator for Reserve in the marketplace.”
Hail Pay was launched in 2014 and was run by a team of three. Co-founder and Chief Executive Dan Anderson will move to New York City to be Reserve’s director of payment systems. Christopher Hopkins, Hail Pay’s other founder, will retain an advisory role.
Separately, Reserve is using Los Angeles as an early launch hub, employing a staff of five at a West Los Angeles field office. The company has received significant investment from the Los Angeles area as well, including funding from angel investor Paige Craig, actor Jared Leto, director Jon Favreau and talent agency William Morris Endeavor. Reserve has raised more than $15 million in investments.
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