Swiggy, an online food delivery company, revealed on Friday that it has acquired Dineout, an eating out and restaurant tech platform, for an unknown fee. According to reliable sources, the deal might be worth over $200 million. Dineout, which serves millions of people across 50,000 restaurants in 20 cities, will continue to function as an independent app following the acquisition.
‘Times Internet and the founding team should be acknowledged for the revolutionary impact they have brought about in the eating out experience with their products, technology, and a large variety of restaurant partners,’ said Swiggy CEO Sriharsha Majety. Once the deal is finalized, the creators of Dineout will join Swiggy.
‘With this purchase, Swiggy will be able to investigate synergies and provide new experiences in a high-use sector,’ Majety added. Dineout, founded in 2012 by Ankit Mehrotra, Nikhil Bakshi, Sahil Jain, and Vivek Kapoor, assists consumers in discovering the best restaurants, making table reservations, and taking advantage of discounts and privileges at certain restaurants. The purchase will also assist Swiggy’s restaurant partners in reaching new consumers and expanding their operations.
‘With Swiggy’s extensive expertise of the ecosystem and our shared enthusiasm for providing a superior customer and restaurant experience, our combined efforts will assist deliver a comprehensive platform in this market,’ stated Mehrotra, Co-founder, and CEO of Dineout. Swiggy has also grown Instamart, its rapid commerce grocery delivery service, to 28 locations and Genie, its pick up and drop service, to 68 cities in the previous 20 months. Currently, the meal delivery network links customers to over 1.9 million restaurant partners and businesses in over 520 cities.