Supply and demand is a pretty simple principle going back to the earliest days of business. The smartphone and mobile device have made it even easier to solve the supply and demand issue. In fact supply and demand has seen two evolutions one at web 1.0 and now at the mobile revolution.
Priceline.com, Hotels.com and more directly Hotwire.com are all great examples of supply and demand being fulfilled by a web based platform. With Hotwire, hotels that have last minute vacancies can use their web (and now mobile) platform to sell rooms that would otherwise sit vacant to last minute travelers. Priceline also does this, with blind box selling (like hotwire) and fulfilling name your price offers.
In the mobile revolution, HotelTonight is crushing it filling last minute vacancies by booking travel on the same day. In fact they allow hotels until 11:00am local time to upload their unsold rooms and try and sell them at an actual discount on HotelTonight. The app doesn’t open up it’s availability to users until 12:00 noon local time.
Now a London startup called Ruffl has decided to try their luck at the last minute supply and demand market for dining reservations.
Now we realize that apps like OpenTable and UrbanSpoon have been out for years and do quite successful. With reservation integration both apps, and many of their counterparts are easy to use.
Ruffl shows users dining options nearby with immediate availability, helping restaurants fill the void from no-shows especially at highly sought after restaurants.
WND reports that Ruffl has raised $1.6 million dollars in seed money from Britsh Angels Karen Hanton (the founder of TopTable), David Pritchard (ex-CEO of OpenTable Europe), and Mark Ferguson (son of Alex Ferguson, the former manager of Manchester United football club).
You can find out more about Ruffl here.