+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Swiggy enters high-end dining market with $200 million acquisition of Dineout

May 13, 2022, 20:29 IST
IANS
BCCL
Online food delivery platform Swiggy on Friday announced it has acquired Dineout, a dining out and restaurant tech platform, for an undisclosed sum.
Advertisement

Reliable sources told IANS that the acquisition size could be around $200 million.

Dineout, which serves millions across its network of 50,000 restaurants in 20 cities, will continue to operate as an independent app post the acquisition.

"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," said Sriharsha Majety, CEO, Swiggy.

Dineout founders will join Swiggy once the acquisition is completed.

Advertisement

"The acquisition will allow Swiggy to explore synergies and offer new experiences in a high-use category," Majety added.

Founded in 2012 by Ankit Mehrotra, Nikhil Bakshi, Sahil Jain, and Vivek Kapoor, Dineout helps people discover the best restaurants, make table reservations, enjoy discounts and privileges across select restaurants.

The acquisition will also help Swiggy's restaurant partners reach more customers and grow their business.

"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 Mehrotra, Co-founder and CEO, Dineout.

In the last 20 months, Swiggy has also expanded Instamart, its quick commerce grocery delivery to 28 cities, and Genie, its pick up and drop service to 68 cities.

Advertisement
The food delivery platform currently connects consumers to over 1,90,000 restaurant partners and stores in over 520 cities.

SEE ALSO: Indigo flies the most passengers abroad — check out Air India, Spicejet’s share
Rupee continues to fall to record lows and it might affect your food, education, healthcare and other expenses
Tata motors — Check out latest earning report of automaker in 10 points
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article