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Indian Online Food Delivery Firm Swiggy Buys Dineout For $200 Million

With Dineout acquisition, Swiggy will be able to penetrate the dining-out sector, where its main competitor, Zomato, has been operating in for several years.

Indian Online Food Delivery Firm Swiggy Buys Dineout For $200 Million

Millions of Indians use Swiggy to order meals and goods online. The seven-year-old company is now trying to attract diners. It said on Friday that it has agreed to buy Dineout, popular dining and restaurant software platform, from Times Internet, an Indian company.

The sale price was not disclosed. Nonetheless, a source informed TechCrunch that the all-equity acquisition values Dineout at $200 million.

Dineout has built a nationwide network of over 50,000 restaurant partners and is known for its table reservations and events service. The company makes money by charging restaurants and customers for annual subscriptions. Ankit Mehrotra, Nikhil Bakshi, Sahil Jain, and Vivek Kapoor will join Swiggy after the acquisition. Both firms said the system would remain a stand-alone app.

With the acquisition, Swiggy will be able to penetrate the dining-out sector, where its main competitor, Zomato, has been operating in for several years and was Swiggy’s main differentiator. Swiggy, recently valued at $10.7 billion, has invested in Rapido, a bike and taxi network, and UrbanPiper, a Zomato-backed restaurant management software.

Sriharsha Majety, co-founder and CEO of Dineout, remarked that the company is well-liked by consumers and eateries. Times Internet and the founding team should be recognised for their enormous impact on the dining out experience through their products, technology, and diverse restaurant partners, according to the CEO. Due to the acquisition, Swiggy can explore synergies and offer new experiences in a high-use category.

Dineout began in 2012 and was bought by Times Internet two years later for about $50 million. Satyan Gajwani, vice chairman of Times Internet, noted that the company is pleased with the positive impact Dineout has had on consumers and eateries. Swiggy + Dineout is a terrific combo, and they are thrilled to join forces with Swiggy to serve clients better.

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