On-demand comfort platform Swiggy on Friday stated it has entered right into a definitive settlement with Times Internet to amass eating out and restaurant tech platform Dineout for an undisclosed sum.
Dineout, which serves diners throughout its community of fifty,000 eating places in 20 cities, will proceed to function as an unbiased app submit the acquisition, Swiggy stated in an announcement.
Founders of Dineout — Ankit Mehrotra, Nikhil Bakshi, Sahil Jain and Vivek Kapoor — will be a part of Swiggy as soon as the acquisition is accomplished, it added.
“The acquisition will allow Swiggy to explore synergies and offer new experiences in a high-use category,” Swiggy CEO Sriharsha Majety stated.
Dineout co-founder & CEO Ankit Mehrotra stated, “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.” Stating that Dineout has created a optimistic impression for customers and eating places, Times Internet Vice Chairman Satyan Gajwani stated the mixture of Swiggy and Dineout is a robust one.
Swiggy stated the acquisition of Dineout will allow it to cater to each meals event and it’ll “double down on the synergies with Dineout’s offerings, including dining out table reservations and events. In time, restaurant partners will be able to reach more customers and grow their business”.