American Express invests in Foodline.com

The company makes a minority investment in the online restaurant reservation site, becoming the latest from the Fortune 500 crowd to invest in dining dot-coms.

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Greg Sandoval

Jan. 2, 2002 4:43 p.m. PT

American Express has made a minority investment in Foodline.com, becoming the latest Fortune 500 firm investing in Net dining sites recently.

A spokeswoman at Foodline, an online restaurant reservation and dining information site, declined to discuss the financial terms of the deal announced today.

Two weeks ago, America Online agreed to offer OpenTable.com's dining services on AOL's Digital City network, giving OpenTable access, in the nine cities it operates, to AOL's customers.

Days prior to that, McDonald's led a group that included Blockbuster, TV Guide and Kraft Foods, in investing $80 million into reservation site Food.com.

Foodline offers information on restaurants and a reservation service in 11 cities, including Los Angeles, New York and Philadelphia. The New York City-based firm plans to expand to eight more soon.

Foodline has also received investments from Ticketmaster Online-CitySearch and Kestrel Venture Management.