Foodtech major Swiggy buys restaurant table booking platform Dineout
Bengaluru-based Foodtech official Swiggy today announced that it has made a definite agreement with Times Internet to acquire Dineout, a restaurant, and restaurants.
Upon discovery, Dineout will continue to function as a standalone application. On the other hand, Swiggy will also double the synergies and offerings of Dineout, which includes dining table bookings and events. This agreement will also help Dineout restaurants gain access to Swiggy’s larger customers, allowing them to expand their reach.
Founders Ankit Mehrotra, Nikhil Bakshi, Sahil Jain, and Vivek Kapoor, who launched Dineout in 2012, will join Swiggy once the purchase is complete, the statement said. Dineout is India’s leading provider of dining out solutions and restaurants with a network of more than 50,000 restaurant partners in 20 cities across the country.
“Dineout is a popular brand that enjoys loyalty from consumers and restaurants. Times Internet and the team of founders should be commended for the impact of the change they have made in playing with their products, technology, and a host of restaurant partners, ”said Sriharsha Majety, CEO of Swiggy.
He went on to say that the discovery will allow Swiggy to explore synergies and provide new information in the most widely used category.
“At Dineout, we have always wanted to transform the restaurant industry and this acquisition is a quick step towards the same goal. We have a strong feeling that with Swiggy’s deep understanding of the ecosystem and our shared love for more customer and restaurant information, our combined efforts will help provide the perfect platform for the industry, ”said Ankit Mehrotra, Co-founder & CEO of Dineout.
Commenting on the development, Satyan Gajwani, Vice Chairman of Times Internet, said: “We are proud of the positive impact Dineout has on consumers and restaurants, which helps to simplify and improve food enjoyment. Swiggy + Dineout is a powerful combination, and we are excited to join Swiggy as we continue to look for ways to entertain customers.
Swiggy previously acquired Kint.io, which no longer works, in February 2019. To date, foodtech has acquired Supr Daily, Scootsy, 48East, and Kint.io.
Over the past 20 months, Swiggy has strengthened its food delivery business, expanding Instamart, its fast-supply grocery delivery in 28 cities, and Genie, its pick-and-drop service in 68 cities.
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