Bangalore, India-based online food delivery platform Swiggy announced the acquisition of Times Internet’s restaurant tech platform Dineout on May 13, 2022. The amount of the acquisition as of yet remains undisclosed. However, Dineout will continue to operate as an independent app. Dineout co-founders Ankit Mehrotra, Nikhil Bakshi, Sahil Jain and Vivek Kapoor, will join the delivery giant Swiggy after the acquisition.
Purpose of Acquisition by Swiggy
Swiggy will double down on Dineout’s offerings with this deal, including table reservations and events. Swiggy will also get access to Dineout’s software solutions for restaurants. These solutions are spread across various domains such as marketing and payment operations. Moreover, the food delivery giant will benefit from Dineout’s events business, increasing its revenue streams.
On the other hand, Dineout’s restaurant partners will access Swiggy’s large customer base. This, in turn, will enable the tech platform to further increase its customer reach.
Besides, the two platforms will focus on integrating Dineout’s offerings onto the Swiggy app over the next year. In addition, Swiggy can also combine its loyalty programme with Dineout Passport to create one robust subscription for customers. It will also integrate its wallet with Dineout Pay.
What the Dineout Founder has to say
“At Dineout, we have 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,” said Ankit Mehrotra, Co-founder & CEO.
What the Swiggy Founder has to say
“Dineout is a well-loved brand that enjoys loyalty from consumers and restaurants. Times Internet and the founding team should be credited for the transformational impact they have brought in the dining out experience through their products, technology as well as a vast selection of restaurant partners,” said Sriharsha Majety, CEO of Swiggy.
He further added, “The acquisition will allow Swiggy to explore synergies and offer new experiences in a high-use category.”
What the Times Internet official has to say
“We are proud of the positive impact that Dineout has created for consumers and restaurants, helping streamline and improve the eating out experience. Swiggy + Dineout is a powerful combination. We are excited to join forces with Swiggy as we continue to look for ways to delight customers,” said Satyan Gajwani, Vice Chairman of Times Internet.
Ankit Mehrotra, Nikhil Bakshi, Sahil Jain and Vivek Kapoor co-founded Dineout in 2012. The restaurant tech platform allows customers to explore restaurants in their areas and make table reservations. The platform has a network of 50,000 restaurants in 20 cities. In 2014, Times Internet, the digital media arm of Bennett, Coleman and Company Ltd (Times Group), acquired Dineout.
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