Food delivery giant Swiggy has announced on Friday that it will acquire dining out and restaurant tech platform Dineout from Times Internet for an undisclosed amount. After the acquisition, Dineout will continue to operate as an independent app, said Swiggy in a statement.
The acquisition will enable Swiggy to capitalise on Dineout’s assets and its position in the dining out space. Swiggy will be able to cater to every food occasion. It will also double down on the synergies with Dineout’s offerings, including table reservations and events, the food delivery platform stated.
Dineout has a network of over 50,000 restaurant partners, which will benefit Swiggy.
Dineout founders Ankit Mehrotra, Nikhil Bakshi, Sahil Jain and Vivek Kapoor will join Swiggy once the acquisition is completed.
Swiggy CEO Sriharsha Majety said, “Dineout is a well-loved brand that enjoys loyalty from both consumers and restaurants. Times Internet and the founding team should be credited for the transformational impact they have brought about in the dining out experience through their products, technology, and vast selection of restaurant partners. The acquisition will allow Swiggy to explore synergies and offer new experiences in a high-use category.”
Ankit Mehrotra, co-founder & CEO of Dineout said, “At Dineout, we always wanted to revolutionize the restaurant industry and this acquisition is an accelerating step towards the same goal. We strongly feel that with Swiggy’s deep understanding of the ecosystem and our shared passion for a superior consumer and restaurant experience, our joint forces will help provide a holistic platform in this industry.”
Dineout was founded in 2012 by Mehrotra, Bakshi, Jain and Kapoor and has its presence in 20 cities. It is also known for its contactless dining, which enables users to discover the best restaurants, make table reservations, enjoy discounts and privileges through Dineout Passport and Dineout Pay.
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