The Magellan Network was founded in 2006 to bring the benefits of online transaction services to the restaurant industry. The company's products and its sister company Mercury Payment Systems (MPS) add value to the same constituents. MPS, founded in 2001, currently has 20,000 live customers and processes $7 billion of transactions per year.
The company's core business is focused on the intersection of online restaurant information and online social transactions. The Magellan Network provides online reservation services to restaurants; enables income producing transactions for portals and search engines; produces highly qualified online content about restaurants throughout the United States; and designs, markets and integrates web-based solutions for restaurants.
The company's first product, Magellan Reservations, provides restaurants with an easy-to-use, low-cost online reservations system that reaches today's Internet-focused consumers in search of immediate gratification. During the first six months of 2007, Magellan Reservations enrolled more than 1600 restaurants.
The company has partnerships with leading food specialty dining sites including dineLA.com and more. Diners searching restaurants on these sites can make a reservation 24x7x365 by clicking on a Magellan Reservations link. Restaurants are charged a fee per reservation; revenues from these transactions are shared between The Magellan Network and its partners.
