Swiggy enters the high-end restaurant market with the acquisition of Dineout
Online food delivery platform Swiggy announced on Friday that it has acquired Dineout, a restaurant and restaurant technology platform, for an undisclosed amount.
Dineout, which serves millions of people across its network of 50,000 restaurants in 20 cities, will continue to operate as an independent app after the acquisition.
“Times Internet and the founding team must be credited for the transformational impact they have brought to the dining experience through their products, technology and vast selection of restaurant partners,” said Sriharsha Majety, CEO of Swiggy.
The founders of Dineout will join Swiggy once the acquisition is complete.
“The acquisition will allow Swiggy to explore synergies and deliver 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 at certain restaurants.
The acquisition will also help Swiggy’s restaurant partners reach more customers and grow their business.
“Through Swiggy’s deep understanding of the ecosystem and our shared passion for a superior consumer and dining experience, our joint strengths will help provide a holistic platform in this industry,” said Mehrotra, Co-Founder and CEO. of Dineut.
Over the past 20 months, Swiggy has also expanded Instamart, its fast grocery delivery service to 28 cities, and Genie, its pickup and drop-off service to 68 cities.
The food delivery platform currently connects consumers to over 1,90,000 partner restaurants and stores in over 520 cities.
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