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INTERNET | Internet Software & Services / Customer Relationship Management
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Founded Year

2014

Stage

Acquired | Acquired

Total Raised

$29M

Valuation

$0000 

About Tock

Tock provides a cloud-based platform to eateries and imbiberies that allows them to manage reservations and pre-orders for dining experiences. Tock also enables users to book culinary experiences around the world.Tock also rolled out Tock To Go inn 2020 in response to the pandemic. Tock To Go allows restaurants schedule takeout orders themselves instead of being connected to delivery services.On March 31st, 2021, Tock was acquired by Squarespace at a valuation of more than $400M.

Tock Headquarter Location

406 N. Sangamon Street Floor 3

Chicago, Illinois, 60642,

United States

Latest Tock News

NYC Diners Turn to Reddit to Sell Their $1,500 Reservations During Omicron

Jan 11, 2022

NYC Diners Turn to Reddit to Sell Their $1,500 Reservations During Omicron CartEgg 2 hours ago 3 minutes read The subsequent accessible reservation at Atomix is sort of two months away, however in a single small, comparatively opinionated nook of the web, there are two seats on the Michelin-starred Korean restaurant up for grabs subsequent week. Over the final month, New Yorkers have turned to Reddit to promote their coveted, typically $1,500 reservations to Michelin-starred eating places due to coronavirus exposures and cancelled plans. Close to a dozen posts have appeared on r/FoodNYC and different subreddits in current weeks, promoting reservations at high-quality eating eating places together with Atomix and Eleven Madison Park, which require prospects to pay for forward of time in full and are listed as “non-refundable” on reservation platform Tock. “Unfortunately 2 people in our party have tested positive for covid, so we will not be making the trip to NYC,” one person wrote in a publish promoting a desk for 4 at Eleven Madison Park on New Year’s Eve. “Asking for the price I paid. $1,524.25 total (inc tax) OBO.” Another person, who listed two seats at Atomix in late December, shared that that they had cancelled their plans as a result of their fiancé “was not feeling well.” The value of their reservation? $707.69. Ostensibly, the purchasers turned to Reddit as a result of — related to different high-quality eating eating places throughout the town — reservations at Atomix and Eleven Madison Park are sometimes not refundable. Both eating places enable prospects to reschedule their reservations solely as soon as, with at the least 48 hours discover within the case of Atomix, however in posts on Reddit, customers who recognized as out-of-town guests claimed to be promoting — relatively than rescheduling — their reservations as a result of that they had to cancel their journeys altogether. Advertisement Eater Advertisement The Reddit listings, which vary in value from $500 to $1,500 every, are utterly authorized, says Tock founder Nick Kokonas, and actually, are inspired within the “frequently asked questions” sections of each Atomix and Eleven Madison Park’s Tock pages. “If a booking is prepaid and non-refundable it becomes the property, like a ticket, of the booking owner,” Kokonas tells Eater over e mail. “They can sell it.” Tock is one among few on-line reserving platforms to enable its customers to commerce — and promote, up to the unique paid value — reservations. According to Kokonas, New Yorkers have been exchanging reservations on Craigslist, Facebook, Reddit, and different on-line teams for years, however the apply seems to have picked up steam in current weeks, as circumstances of the omicron variant have compelled eating places to quickly shutter and diners to cancel their plans. Across Tock, requests for refunds are on the highest ranges they’ve been because the onset of the pandemic in March 2020, in accordance to Kokonas, when shut to 100% of bookings had been being cancelled. Cancellation charges this month have greater than doubled since November, he says. The rise in cancellations in the course of the pandemic has induced Atomix to stroll again its no-refund coverage. “We understand the situation of guests who require cancellations day-of due to exposure or positive test results,” a spokesperson for the two-Michelin-starred Korean restaurant mentioned over e mail. “For this reason, for covid-19 we issue a full refund, and offer assistance to rebook the reservation for guests when they have returned to full health, based on availability.” Advertisement Eleven Madison Park didn’t reply to requests for remark. No refund insurance policies aren’t unusual, partly due to the high-cost of components and labor on the highest finish of eating in New York City. “In restaurant culture, especially in fine dining, a ‘no refund’ policy is one that respects the restaurant,” a spokesperson for Atomix explains. “Fine dining restaurants including Atomix prepare our operations and details of the menu based on our planned reservations… No shows, or day-of cancellations impact a restaurant’s operations and business greatly.” In addition to Atomix and Eleven Madison Park, Saga within the Financial District additionally lists a no-refund coverage for its $245 per particular person tasting menu. Others, together with Midtown’s Per Se and Masa close to Columbus Circle, require prospects to pay a $200 and $650 deposit per particular person, respectively, on the time a reservation is made. Sign up for the

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Research containing Tock

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CB Insights Intelligence Analysts have mentioned Tock in 1 CB Insights research brief, most recently on Dec 8, 2021.

Expert Collections containing Tock

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Tock is included in 1 Expert Collection, including Restaurant Tech.

R

Restaurant Tech

815 items

Hardware and software for restaurant management, bookings, staffing, mobile restaurant payments, inventory management, cloud kitchens, and more. On-demand food delivery services are excluded from this collection.

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