Food-delivery app available online Swiggy has agreed to buy restaurant technology and dining out platform Dineout from Times Internet in a formal deal. Swiggy said in a statement that Dineout will continue to operate as an independent app following the acquisition.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The mostly all-stock transaction is likely to close in the next month for roughly $120 million, or about Rs 930 crore. The acquisition would allow Swiggy to investigate synergies and create new experiences in a high-use area, according to Sriharsha Majety, Swiggy’s cofounder and CEO. Swiggy is expected to expand Dineout’s products, such as table bookings and events, while Dineout’s restaurant partners will have access to Swiggy’s enormous consumer base, expanding their reach.
About Dineout:
Dineout, founded in 2012 by Mehrotra, Nikhil Bakshi, Sahil Jain, and Vivek Kapoor, allows clients to find restaurants in their neighbourhood and make reservations at any of its 50,000 restaurants in 20 cities. It also offers contactless eating solutions to restaurants, as well as discounts and privileges to customers at certain restaurants via Dineout Passport and Dineout Pay. Times Internet, the digital media branch of Bennett, Coleman and Company Ltd (Times Group), which publishes ET, bought Dineout in 2014. According to the statistics stated above, Dineout has close to 5 million consumers, whereas Swiggy has over 50 million active annual transacting users.
Important Takeaways For All Competitive Exams:
Did you ever notice how big cities are always busy with traffic and crowds? To…
India has made a notable jump in global digital performance by improving its position in…
India and Seychelles have taken their bilateral partnership to a new strategic level. On 9…
India has taken a major diplomatic and strategic step in the Indian Ocean region. On…
The 2026 Winter Olympics have officially begun in Milan, Italy, and the competition is already…