Swiggy Ties Up With Times Internet To Acquire Dineout For Unknown Amount
Swiggy, after the acquisition, has said Dineout will continue to operate as an independent app
New Delhi: Online food aggregator Swiggy on Friday announced that it has entered into a definitive agreement with Times Internet to acquire Dineout, a dining out and restaurant tech platform, for an undisclosed sum, according to the company statement.
Swiggy, after the acquisition, has said Dineout will continue to operate as an independent app.
This acquisition will enable the online food platform to capitalise on Dineout’s assets, its position in the dining out space and will enable Swiggy to cater to every food occasion. It will also double down on the synergies with Dineout’s offerings, including table reservations and events.
The statement mentioned Dineout has a network of over 50,000-restaurant partners that will benefit Swiggy.
Ankit Mehrotra, Nikhil Bakshi, Sahil Jain, and Vivek Kapoor – founders of Dineout – will join Swiggy once the acquisition is done.
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 and 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, which was founded in 2012 has presence in 20 cities across the country. The company is also known for its contactless dining that enables users to discover the best restaurants, make table reservations, enjoy discounts, and privileges through Dineout Passport and Dineout Pay.
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