Swiggy signs deal with Times Internet to acquire Dineout for unknown sum

14/05/2022

Bengaluru, may 13: Food delivery giant Swiggy said it has entered into a definitive agreement with Times Internet to acquire Dineout, leading dining out and restaurant tech platform.
Dineout will continue to operate as an independent app post the acquisition. The companies did not reveal the value of the transaction.
Designed to capitalise on Dineout’s unique assets and leading position in the dining out space, the acquisition will enable Swiggy to cater to every food occasion.
Swiggy will 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. Swiggy has over 270,000 delivery partners across the country.
“Dineout is a well-loved brand that enjoys loyalty from both consumers and restaurants. 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.
“The acquisition will allow Swiggy to explore synergies and offer new experiences in a high-use category.”
Industry sources said that many of the restaurant partners on Dineout are also present on the Swiggy platform. Dineout brings with it an industry-leading network of over 50,000 restaurant partners along with invaluable experience and proven technology. Swiggy will benefit from this, along with Dineout’s team, who are passionate about the restaurant dining out category. Founders Ankit Mehrotra, Nikhil Bakshi, Sahil Jain and Vivek Kapoor will join Swiggy once the acquisition is completed.
“At Dineout, we always wanted to revolutionize the restaurant industry and this acquisition is an accelerating step towards the same goal,” said Ankit Mehrotra, co-founder and CEO. “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.
With a mission to offer unparalleled convenience, Swiggy today provides a range of services to better the lives of consumers. In the last 20 months, Swiggy has strengthened its food delivery business, expanded Instamart, its quick commerce grocery delivery to 28 cities, and Genie, its pick up and drop service to 68 cities.
Customers are able to enjoy the benefits across its on-demand services through Swiggy’s comprehensive membership program ‘Swiggy One’.
“We are proud of the positive impact that Dineout has created for consumers and restaurants, helping streamline and improve the eating out experience,” said Satyan Gajwani, vice chairman of Times Internet. “Swiggy plus 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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