Swiggy Acquires Dineout
On Friday, leading online food delivery platform, Swiggy
informed that it has acquired Dineout, However, the food delivery platform did not reveal the amount at which it acquire the dining out and restaurant tech platform. Some sources say that
Swiggy acquired Dineout
for around $200 million. On the other hand, post-acquisition, Dineout, which has a network of 50,000 restaurants in 20 cities, will continue to operate as an independent app.
After the deal, Sriharsha Majety, CEO of Swiggy said, "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 a vast selection of restaurant partners. The acquisition will allow Swiggy to explore synergies and offer new experiences in a high-use category.”
Dineout was founded by Ankit Mehrotra, Nikhil Bakshi, Sahil Jain, and Vivek Kapoor in the year 2012. It assists people to discover the best restaurants, make table reservations, and enjoy discounts and privileges across select restaurants.
Mehrotra, Co-founder, and CEO, of Dineout, commented, "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.”