Here is the rewritten text in a neutral tone, without any added opinions or bias:
Access: A Subscription-Based Restaurant Booking App
Access is a new subscription-based restaurant booking app that aims to solve the problem of hard-to-get reservations at popular restaurants. The app allows users to book tables at high-end restaurants and events, with various subscription plans available.
Key Features:
- Access offers different subscription plans, ranging from $100 to $1,000 per month
- Users can book tables at top-rated restaurants in New York City
- The app includes features such as personalized restaurant services, pop-up events for members, and access to ticketed sports, art, entertainment, and fashion events
- Access has secured a $500,000 pre-seed investment from PE firm Initium Management and the family office of former Goldman Sachs partner Ron Marks
Revenue and Growth:
- Access is generating $50,000 in revenue per month
- The company expects to reach $1 million in revenue by the end of next year
- The app has a capped membership limit of 3,000 people, with prospective subscribers required to apply through a questionnaire
Industry Reaction:
- Critics argue that Access caters to the wealthy and exacerbates inequality in the restaurant industry
- Others see it as a legitimate solution for busy professionals and tourists seeking high-end dining experiences without the hassle of waiting lists
- The app’s business model is compared to other subscription-based services, such as LineLeap and AmEx’s premium restaurant booking apps
Investors:
- Ron Marks, former Goldman Sachs partner, has invested in Access through his family office
- PE firm Initium Management also participated in the pre-seed funding round
Competitors:
- LineLeap offers a similar service for skipping lines at bars and concerts
- Credit card companies like AmEx have partnered with restaurant booking apps to offer exclusive benefits to high-end cardholders
This rewritten text maintains a neutral tone, focusing on the key features, revenue, and growth of Access, as well as the industry reaction and investors involved.
