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American Express buys Japanese restaurant reservation startup Pocket Concierge

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See the original story in Japanese. Tokyo-based Pocket Concierge, the Japanese startup offering an online restaurant reservation platform under the same name, has been fully acquired by American Express (Amex). Financial terms regarding the deal has not been disclosed. The platform was founded in March of 2013 by Kei Tokado who was has experience in the restaurant business, including time as a restaurant chef (the company’s name was Pocket Menu at the time). Based on the quality of menu and service as well as concept and their chef’s thought, more than 800 restaurants have been carefully selected according to the platform’s proprietary standards. With the acquisition by Amex, Pocket Concierge will be more focused on providing their card holders with access to Japanese premium restaurants. However, even after the acquisition, the platform is expected to continue offering their existing services to anyone regardless of whether or not he/she is an Amex member. It’s not clear about how much money the company has fundraised to date. Their investors partcipating in past rounds include Adways, Allied Architects, 500 Startup Japan, Monex Ventures, iMercury Capital, Line, Nippon Venture Capital, Fuji Startup Ventures, and Isetan Mitsukoshi Innovations. See also: Japan’s Pocket Concierge starts accepting…

See the original story in Japanese.

Tokyo-based Pocket Concierge, the Japanese startup offering an online restaurant reservation platform under the same name, has been fully acquired by American Express (Amex). Financial terms regarding the deal has not been disclosed.

The platform was founded in March of 2013 by Kei Tokado who was has experience in the restaurant business, including time as a restaurant chef (the company’s name was Pocket Menu at the time). Based on the quality of menu and service as well as concept and their chef’s thought, more than 800 restaurants have been carefully selected according to the platform’s proprietary standards.

With the acquisition by Amex, Pocket Concierge will be more focused on providing their card holders with access to Japanese premium restaurants. However, even after the acquisition, the platform is expected to continue offering their existing services to anyone regardless of whether or not he/she is an Amex member.

It’s not clear about how much money the company has fundraised to date. Their investors partcipating in past rounds include Adways, Allied Architects, 500 Startup Japan, Monex Ventures, iMercury Capital, Line, Nippon Venture Capital, Fuji Startup Ventures, and Isetan Mitsukoshi Innovations.

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Translated by Masaru Ikeda

Japan’s Pocket Concierge starts accepting pre-payments for restaurant reservations

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See the original story in Japanese. Pocket Concierge is a website that allows users to book popular restaurants, even if they are fully booked several months in advance. Tokyo-based startup Pocket Menu, the startup behind the service, yesterday launched a pre-payment service via credit card for restaurant reservations called the Pocket Experience function. By registering credit card information when booking, a user will not need to check the bill and pay at the restaurant. So if you take your girlfriend or fiancée to a restaurant, you can avoid letting her know the amount of the bill—thus avoiding the risk of spoiling the mood. Using this function, participating restaurants can shorten the payment process after serving customers, in addition to curtailing the reservation cancellations risk. Tests at 20 restaurants in Japan convinced Pocket Menu that the new function improves the operational efficiency of restaurants. Now available at 25 restaurants, the company plans to roll out this function to more restaurants soon. The primary age group of their customers is from the mid-30s to 50s, with the average customer spending $150 per dining experience. To better serve international users, they plan to introduce an English version and expand to overseas cities, such…

pocketcincierge_featuredimage

See the original story in Japanese.

Pocket Concierge is a website that allows users to book popular restaurants, even if they are fully booked several months in advance. Tokyo-based startup Pocket Menu, the startup behind the service, yesterday launched a pre-payment service via credit card for restaurant reservations called the Pocket Experience function.

By registering credit card information when booking, a user will not need to check the bill and pay at the restaurant. So if you take your girlfriend or fiancée to a restaurant, you can avoid letting her know the amount of the bill—thus avoiding the risk of spoiling the mood.

Using this function, participating restaurants can shorten the payment process after serving customers, in addition to curtailing the reservation cancellations risk. Tests at 20 restaurants in Japan convinced Pocket Menu that the new function improves the operational efficiency of restaurants. Now available at 25 restaurants, the company plans to roll out this function to more restaurants soon.

The primary age group of their customers is from the mid-30s to 50s, with the average customer spending $150 per dining experience. To better serve international users, they plan to introduce an English version and expand to overseas cities, such as Paris.

Japanese startup raises $600K, gets you into hard-to-book restaurants

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See the original story in Japanese. Pocket Concierge is a website that allows you to book popular restaurants, even if they are fully booked for several months. Tokyo-based startup Pocket Menu, the startup behind the service, announced today it has raised 60 million yen (approximately $600,000) from Fuji Startup Ventures, Nippon Venture Capital, and individual investors. It’s really tough to reserve popular restaurants online or over the phone. However, when the restaurants experience sudden cancellations, they could be wasting food. So it’s useful for them to be able to invite other customers instead. This service allows the restaurant to e-mail you an invite when they have an unexpected vacancy in their reservation list. As a result, you can have a chance to enjoy dining at the restaurant that you normally might not be able to visit. The service was launched by former chef Kei Tokado back in March, and recently added new features that give users a better experience. The startup has limited its service area to restaurants in Tokyo, but with these new funds, it expects to expand the beyond Tokyo to other major Japanese cities such as Kyoto and Osaka.

pocket-concierge

See the original story in Japanese.

Pocket Concierge is a website that allows you to book popular restaurants, even if they are fully booked for several months. Tokyo-based startup Pocket Menu, the startup behind the service, announced today it has raised 60 million yen (approximately $600,000) from Fuji Startup Ventures, Nippon Venture Capital, and individual investors.

It’s really tough to reserve popular restaurants online or over the phone. However, when the restaurants experience sudden cancellations, they could be wasting food. So it’s useful for them to be able to invite other customers instead. This service allows the restaurant to e-mail you an invite when they have an unexpected vacancy in their reservation list. As a result, you can have a chance to enjoy dining at the restaurant that you normally might not be able to visit.

The service was launched by former chef Kei Tokado back in March, and recently added new features that give users a better experience. The startup has limited its service area to restaurants in Tokyo, but with these new funds, it expects to expand the beyond Tokyo to other major Japanese cities such as Kyoto and Osaka.

Japan’s Pocket Concierge fills cancelled restaurant reservations with eager customers

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Read this story in Japanese. When you go for a night out on the town, how do you find the best restaurant? In Japan, most people rely on internet resources such as Tabelog, Gournavi, Naver Matome, or even blog posts. But with Japan’s high internet penetration, many people in your area are probably doing the same thing. As a result, it can be even the harder to reserve a spot in the restaurant you want. Pocket Concierge was recently launched with the aim at solving this kind of problem, allowing you to book even popular restaurants that might be wait-listed for several months. How does it work? You bookmark the restaurant of your choice by clicking the ‘wish-to-go’ button on the Pocket Concierge website. When the restaurant finds any unexpected vacancy in their reservation list, they will e-mail you an invite through the site. You will be requested to enter what day and how many people are in your party. Pocket Concierge will then e-mail you confirmation of the booking after finalizing with the restaurant. While popular restaurants are tough to reserve, when they experience sudden cancellations they could be wasting food – and it’s useful for them to be…

restaurant

Read this story in Japanese.

When you go for a night out on the town, how do you find the best restaurant? In Japan, most people rely on internet resources such as Tabelog, Gournavi, Naver Matome, or even blog posts. But with Japan’s high internet penetration, many people in your area are probably doing the same thing. As a result, it can be even the harder to reserve a spot in the restaurant you want.

Pocket Concierge was recently launched with the aim at solving this kind of problem, allowing you to book even popular restaurants that might be wait-listed for several months.

How does it work? You bookmark the restaurant of your choice by clicking the ‘wish-to-go’ button on the Pocket Concierge website. When the restaurant finds any unexpected vacancy in their reservation list, they will e-mail you an invite through the site. You will be requested to enter what day and how many people are in your party. Pocket Concierge will then e-mail you confirmation of the booking after finalizing with the restaurant.

While popular restaurants are tough to reserve, when they experience sudden cancellations they could be wasting food – and it’s useful for them to be able to invite other customers instead. Interestingly, the service is not PC dependent as it is also available to use via fax.

Pocket Concierge was founded by Kei Tokado who was has experience in the restaurant business, including time as a restaurant chef. His unique background and insight made it possible to come up with such an idea, having seen the need for such a service first hand.

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Early insights

Pocket Concierge has been operating in closed beta since the beginning of this year. And so far they have intriguing insights, finding that sales professionals in their 30s often dined with business partners, and male business owners in their 40s were also very responsive. Kei Tokado explains:

We previously intended to provide users with an alternative way to book ‘hard-to-reserve’ restaurants. But from the closed beta program, we found that customers using our service were very satisfied because participating restaurants provided them with extra rewards when the customers dined. In comparison to existing restaurant-related online services, we believe we provide more value, even offline.

We heard from many restaurants that it’s possible to learn in advance the sort of occasion a customer might have, or if they have certain ingredients they dislike or might be allergic to. This information makes it possible to provide a service which fits the customer very well.

For users, it’s free to make a reservation more than three days in advance of your visit, but otherwise you will be charged. The service started in Tokyo but expects to expand to other major Japanese cities including Kyoto, Osaka, Nagoya, Kobe, and Fukuoka.

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