Clear cut executive salaries to zero and launched Health Pass during COVID-19
“We took our salaries to zero and we created a leave of absent plan for our ambassadors so that when it really happened on March 12th, ah, we were prepared and pivoted to creating health pass and connecting people to their test information and ultimately their …”
Leventhal: Resy initially took a 20% cut on paid table reservations
“My recollection is that we took 20% as a vig, and the restaurant kept the rest.”
Leventhal: Metering restaurant software fees based on booking volume is insane
“The idea that more successful restaurants pay more is insane. You pay us a flat fee. Use the software as much as you want it.”
Leventhal: Airbnb agreed to both invest in Resy and partner commercially
“At some point in that conversation, we said, you know, we'd like this to be both an investment and a commercial partnership, and they agreed.”
Leventhal: Pre-Resy reservation software lacked centralized multi-unit guest databases
“Before Resi came along, every individual restaurant unit had its own customer database. It was essentially a customer database on a local server, and from the start, we said, you're, you know, if you have four restaurants, it's all one database.”
Leventhal: Resy was not profitable when acquired by American Express
“We were in sight of it when we sold it to Amex. We were not profitable.”
Leventhal: Resy cut fees to zero during COVID, setting industry precedent
“We did two things, and we did them very fast, and then the industry followed. One is, we cut fees to zero. We thought it was really important, symbolically, to say, we are not in a position to be collecting money from restaurants right now, and a lot of the in…”
Vaynerchuk: Resy Was Incubated and Funded Through Vayner/RSE
“We did through the fund that I started, VaynerRSC, and so we incubated Resi in that fund at some level.”