Foodtech Giant Swiggy Acquires Restaurant Tech Platform Dineout
Foodtech Decacorn Swiggy has entered into a definitive agreement with Times Internet to acquire Dineout, which is India’s leading dining out and restaurant tech platform.
As per the foodtech decacorn, the acquisition deal has been designed to capitalise on Dineout’s unique assets and leading position in the dining out space, enabling Swiggy to cater to every food occasion. Additionally, Swiggy would double down on the synergies with Dineout’s offerings, including dining out table reservations and events.
Post the acquisition, Dineout founders Ankit Mehrotra, Nikhil Bakshi, Sahil Jain and Vivek Kapoor will join Swiggy. Additionally, Dineout will continue to operate as an independent app.
Swiggy Acquires Dineout
Dineout brings with it an industry-leading network of over 50,000 restaurant partners along with invaluable experience and proven technology, highlighted an official statement.
Speaking about the development, Ankit Mehrotra, Co-founder & 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.”
Praising the Times Internet and the founding team, Sriharsha Majety, CEO of Swiggy, credited them for the transformational impact they have brought to the dining out experience through their products, technology and a vast selection of restaurant partners.
Commenting on the acquisition deal, Satyan Gajwani, Vice Chairman of Times Internet, said,
“We are proud of the positive impact that Dineout has created for consumers and restaurants, helping streamline and improve the eating out experience. Swiggy + Dineout is a powerful combination, and we are excited to join forces with Swiggy as we continue to look for ways to delight customers.”
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