What Waterbar does

Waterbar is a single-location, full-service seafood restaurant operating at 399 The Embarcadero on San Francisco's Rincon Park waterfront since 2008. Founded by designer/restaurateur Pat Kuleto with Executive Chef/Owner Parke Ulrich and Chef/Owner Mark Franz, the business offers lunch (11:30am–2:30pm daily), dinner (5pm–9pm Sun–Thu; until 9:15pm Fri–Sat), and a daily happy hour (2:30pm–5pm). The concept is anchored on three revenue streams: dine-in service featuring West Coast oysters (priced $3.55–$4.80 each) and premium entrees (Filet Mignon $59, Whole Branzino $52, caviar at $90–$120/oz), private events across three spaces with capacity up to 400 guests, and ancillary channels including online prepay, gift cards, and an annual OysterFest charity event.

The underlying technology is largely off-the-shelf: a BentoBox-powered website integrating OpenTable reservations, Apple/Google Pay, SpotHero parking, and SMS marketing. Pricing includes layered surcharges (7% local ordinance, 7% SF employer health, 22% service charge) and 75% deposits on private events. Distribution is exclusively direct-to-consumer at the single SF location; no delivery, pickup, or third-location capability exists. Customer segments split between individual fine-dining diners (tourists, locals, professionals) and private event hosts (corporate, weddings, nonprofits), with charitable organizations benefitting from the Oyster Give Back program (5¢ per oyster sold since 2014, $268,955 raised).

The restaurant holds multi-year operational alignment with adjacent sister concept EPIC Steak (same owners, shared Executive Chef Parke Ulrich) and is governed by Managing Partner Pete Sittnick and General Manager Rich Troiani. Leadership includes Executive Pastry Chef Lori Baker, Beverage Director Valentina Moya, and Private Dining Director David Hanna. The company has no parent, no outside funding, no subsidiaries, and is structured as a privately-held single-entity operation in the Pat Kuleto Restaurants portfolio, headquartered in San Francisco, California.

Name

Waterbar

Legal name

Waterbar

Website

https://waterbarsf.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

51–100 employees

Short description

Waterbar is a privately-held fine-dining seafood restaurant on San Francisco's Embarcadero waterfront, founded in 2008, serving lunch, dinner, and private events (up to 400 guests) to tourists, locals, and event hosts, with a focus on sustainably sourced oysters, premium caviar, and waterfront views.

Ownership category

akta.pro rank

Product category

Fine Dining Seafood Restaurant

SIC

Retail-Eating & Drinking Places (5810)

akta.pro primary industry

Rooftop Bars & Beach/Pool Bars (THAFAEAJ)

Keywords

• Seafood restaurant
• Fine dining
• Oyster bar
• Private event dining
• Waterfront restaurant

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Dine-in Restaurant Sales: Core revenue from selling seafood dishes, shellfish, oysters, caviar, entrees, desserts, and beverages to dine-in customers. Lunch served 11:30am-2:30pm daily, dinner 5pm-9pm (Fri-Sat until 9:15pm), Bar Menu & Happy Hour 2:30pm-5pm daily.
2. Private Dining & Events: Revenue from hosting private events including weddings, corporate dinners, cocktail receptions, and full property buyouts. Private dining spaces include The Bridge Tower Room (60 seated/75 reception), The Looking Glass (24 seated/50 reception), and Full House Buyout (180 seated/350 reception). Deposits and minimum spend requirements apply.
3. OysterFest Charity Event: Annual charity event featuring live music, oysters, food, and wine with all net proceeds donated to local charities. Ticket donation price of $125 includes admission, restaurant bites, wines, craft beers, oysters, hors d'oeuvres, live music, games and silent auction.
4. Gift Cards: Sale of gift cards through their secure online portal (securetree.com) as an additional revenue stream.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Waterbar is a premier waterfront fine-dining seafood restaurant on San Francisco's Embarcadero, serving daily-changing menus of sustainably sourced fish and shellfish plus the most expansive oyster and caviar selection on the West Coast. It also offers private dining and event spaces, happy hour, gift cards, and charity events.

Product overview

Waterbar is a premier seafood restaurant offering a single unified dining experience centered on sustainably sourced seafood. The core product is the daily lunch and dinner service featuring the most expansive oyster selection on the West Coast, premium caviar, and freshly prepared fish and shellfish entrées. Supporting offerings include a Happy Hour bar menu, dessert menu, kids menu, private dining and event spaces (The Bridge Tower Room, The Looking Glass, and full buyout options), the annual OysterFest charity event, the Oyster Give Back community program, and gift cards. All offerings are unified under one waterfront location at 399 The Embarcadero in San Francisco.

Differentiator

Problem solved

Functional benefit

Products and services

• Oysters & Caviar Premium seafood offering featuring the most expansive selection of oysters on the West Coast, including varieties like Barachois, Chrome Point, Drakes Bay, Humboldt Kumamoto, and Olympia, as well as caviar options including Paddlefish and White Sturgeon.
• Lunch Menu Daily lunch service from 11:30am-2:30pm featuring shellfish dishes, starters, entrees, and sides. Includes options like Crab Cocktail, Prawn Cocktail, Steamed Manila Clams, and seasonal salads. A Chef's Prix Fixe Lunch is available for $39.
• Dinner Menu Dinner service Sunday-Thursday 5pm-9pm, Friday-Saturday 5pm-9:15pm. Features premium seafood entrees including Whole Branzino, Local King Salmon, Miso Cured Black Cod, and meat options like Filet Mignon and Umpqua Valley Lamb.
• Happy Hour & Bar Menu Bar menu and happy hour offered daily 2:30pm-5pm featuring discounted drinks, bar bites including Cheese Plate, Caramelized Oyster Dip, Alaskan Halibut Ceviche, and Lamb Sliders.
• Dessert Menu Dessert offerings including Coconut Cream Pie, Banana Basque Cheesecake, Chocolate Babka Bread Pudding, Tres Leches Cake, housemade ice creams and sorbets, and artisan cheese plates.
• Kids Menu Children's menu offering Chilled Shrimp Cocktail, Seasonal Salad, Cheese Ravioli, Cheese Quesadilla, Crispy Chicken Tenders, and Kids' Ice Cream Sundae.
• Private Dining & Events Private dining spaces including The Bridge Tower Room (seats 60, reception 75), The Looking Glass (seats 24, reception 50), and Full House Buyout (seats 180, reception 350). Services include weddings, corporate events, receptions, and celebrations up to 400 guests.
• OysterFest Annual charity event featuring live music, oysters, food, and wine. All net proceeds are donated to local charities. The 2026 event benefiting the Marine Mammal Center of Sausalito is scheduled for September 27th.
• Gift Cards Digital gift cards available for purchase through Waterbar's secure online store (securetree.com), redeemable for dining at the restaurant.
• Oyster Give Back Program Community giving initiative donating 5 cents per oyster sold to local charitable organizations. Since 2014, over $268,955 has been raised. 2026 partners include Sandy Hook Promise, The Parkinson Association of Northern California, and The Watershed Project.

Quantifiable outcome

• Top 10 U.S. restaurant for seafood sustainability
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• The Marine Mammal Center of SausalitocoreStrategic or Co-development Partner · 27 September 2026Beneficiary of OysterFest 2026 annual charity event. Waterbar's Oysterfest has raised $157,000 over the last 13 years with all net proceeds donated to local charities.
• Watershed Project BoardcoreStrategic or Co-development Partner · 1 January 2011Eric Hyman, Waterbar's Purchasing Manager, joined the Board of Directors for The Watershed Project in 2011. Organization has begun successfully reintroducing native Olympia oysters to the San Francisco Bay.
• EPIC SteakcoreStrategic or Co-development PartnerWaterbar's sister restaurant located directly next door, sharing Executive Chef Parke Ulrich and the same stunning waterfront views. Both opened in 2008, offering a playful land-and-sea culinary yin and yang. EPIC Steak is a modern American steakhouse featuring prime dry-aged meats, fresh seafood, extensive wine list, and craft cocktails.
• The Watershed ProjectcoreStrategic or Co-development PartnerCurrent Q3 2026 charitable partner for Oyster Give Back program. Organization works to restore native oyster population, educate children in schools, and implement infrastructure projects for the health of local waterways. Waterbar has partnered with them since 2014, raising over $268,955 for local causes.
• Sandy Hook PromiseminorStrategic or Co-development PartnerQ1 2026 charitable beneficiary for Oyster Give Back program. Received $3,850 donation from Waterbar's Oyster Give Back campaign.
• Parkinson Association of Northern California (PANC)minorStrategic or Co-development PartnerQ2 2026 charitable partner for Oyster Give Back program supporting Parkinson's research and awareness in Northern California.
• Glodow Nead CommunicationscoreGTM or Marketing PartnerWaterbar's press team passionate about collaborating with journalists to share stories celebrating San Francisco Bay and gourmet seafood. Contact: Kent Luetzen, Director, at [email protected] or 415.394.6500.
• Compass Family ServicesminorStrategic or Co-development PartnerSF Private Dining Venues honored to partner with Compass Family Services for gala event. 100% of event proceeds benefiting their vital work to help homeless and at-risk families build stable, secure futures.

Scale indicators7 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• EPIC Steak: Waterbar's sister restaurant located directly adjacent at the same Embarcadero address; shares Executive Chef Parke Ulrich, the same owners (Ulrich, Kuleto, Franz), and the same waterfront views, operating as the steakhouse complement to Waterbar's seafood focus.
• Farallon: Pat Kuleto-designed and Parke Ulrich-led fine-dining seafood restaurant in San Francisco's Union Square area; closely comparable as another Kuleto seafood concept serving premium shellfish, oysters, and sustainably sourced fish to a similar clientele.
• Boulevard Restaurant: Pat Kuleto co-created Belle Epoque-inspired American fine-dining restaurant in SF; shares Pat Kuleto and Pete Sittnick lineage and operates at a comparable price point and special-occasion occasion within SF's premium dining tier.
• Slanted Door: Charles Phan-founded Vietnamese-Californian restaurant on the SF waterfront (Ferry Building), directly comparable as another iconic SF fine-dining waterfront concept competing for tourist and special-occasion occasions along the Embarcadero corridor.
• Scoma's Restaurant: Third-generation family-owned seafood restaurant on San Francisco's Pier 47; competes head-to-head with Waterbar for fisherman's wharf-adjacent seafood occasions, serving sustainably sourced fish and shellfish at fine-dining price points.
• Hog Island Oyster Co. Tomales Bay-based oyster farm and SF Ferry Building shellfish restaurant; comparable on oyster selection breadth and farm-to-table sustainable shellfish positioning, though at a more casual price point and with multiple locations.
• Tadich Grill: SF institution (est. 1849) serving fresh seafood and cioppino to downtown business diners for over 170 years; competes with Waterbar for upscale seafood occasions and shares Private Dining Director David Hanna's prior employment history.
• Swan Oyster Depot: SF Polk Street seafood counter institution famous for its oyster and seafood selection; comparable on seafood-occasion dominance in SF even though it operates in a more casual counter-service format.
• McCormick & Kuleto's: Pat Kuleto-designed waterfront seafood restaurant at Ghirardelli Square in SF; comparable as another Kuleto signature, premium seafood concept serving similar oyster-and-sustainably-sourced-fish fare in a waterfront setting.
• Saison: 3-Michelin-star tasting-menu restaurant in SF; competes at the apex of SF fine dining for special-occasion and high-spend per-cover occasions with a similar customer demographic to Waterbar's private-event guests.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/waterbarsf
• Instagraminstagram.com/waterbarsf
• Xx.com/Waterbar

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Waterbar