Squarespace, an all-in-one website building and ecommerce platform, announced it has acquired Tock, a leading unified system serving the hospitality industry with online reservations, table management, takeout, and events in one place, for more than $400 million in a mix of cash and stock.
With this acquisition, Squarespace continues the evolution of its product suite. Squarespace customers will have the ability to integrate a best-in-class solution for managing reservations, accelerate sales, provide marketing integrations, and connect directly with their customers.
"Ecommerce within the restaurant and hospitality industries is a large and growing market opportunity," says Anthony Casalena, Squarespace founder and CEO. "I've long admired Tock's vision to reimagine how reservation-based businesses connect with their customers. We believe that together we will continue building on their success, bringing Tock's capabilities to our all-in-one product suite in service of our customers in the hospitality industry and beyond."
"Squarespace and Tock have a shared mission of elevating and enabling our customers' success and passion," says Nick Kokonas, Tock Founder & CEO. "Combining Tock's unified platform and years of hospitality industry expertise with Squarespace's reach, resources, and design-forward products, in our view, creates an opportunity to deliver a best-in-class solution to millions of entrepreneurs and small businesses around the world."
Launched in 2014 by Kokonas, co-owner and co-founder of the Alinea Group, Tock powers reservations, table management, carryout operations, and events for more than 7,000 hospitality operators ranging from neighborhood pizzerias to Michelin-starred destinations, wineries, and pop-ups in 30 countries.Tock's cloud-based platform provides businesses with sophisticated CRM and dynamic pricing tools to increase sales and deliver world-class hospitality. Tock has processed over $1 billion prepaid experiences in addition to millions of standard reservations across 200 cities around the world. Recently named one of Fast Company's Most Innovative Companies in 2021, Tock launched Tock to Go in 2020 in response to the COVID-19 pandemic to allow restaurants to schedule takeout orders themselves instead of linking out to delivery services.
The acquisition of Tock follows Squarespace's acquisitions of Acuity Scheduling, the online appointment scheduling platform, and Unfold, an app that helps anyone create elevated and engaging stories for social media, in 2019.
News and information presented in this release has not been corroborated by FSR, Food News Media, or Journalistic, Inc.