Vishvas NarayanSwiggy is one of the countries largest food delivering applications. Along with Zomato, the two companies have been in a rivalry lasting for years to be at the apex of the food delivery business in the country.
Swiggy recently came out to announce they have acquired Dineout. Dineout is an Indian based application that acts a platform for people to check out restaurants they want to visit, check out their menu, timings, and other details. But, the main feature of the app is that the users can book reservations and tables through the app. You can even avail discounts with partner restaurants if you book your reservations through their app.
Dineout was founded 10 years ago, back in 2012 by Ankit Mehrotra, Nikhil Bakshi, Sahil Jain, and Vivek Kapoor. The app even has a lot of toggles so you can sort by price, rating, cuisine, alcohol availably, rush hours and so much more. Currently, Dineout is the country’s largest and most successful dining out and restaurant tech company.
Dineout has been doing quite well financially as they are on track to earn well over Rs. 100 crores in this financial year.
The entire cost of the acquisition is set to be around $ 200 million USD.
Dineout currently has well over 50,000 restaurant partners that span all around the country. Dineout’s proprietary technology also places them to keep their crown as the number one dining out and restaurant tech company for years to come. Their technology, algorithms, and data will also be of great help to Swiggy and at the same time, Swiggy can help Dineout grow a lot and help them gain more regular users and more restaurant partners as well.
The chief executive officer of Swiggy said that the two companies can synergize together to bring a much easier, faster, and accurate services to their customers in such a competitive field. He also gave them credit and appreciated the company for the way they have revolutionised in the way bookings and dining works and even the way people view and choose between places to eat.
In their public statement Swiggy said that they are in a mission to provide ‘unparalleled convenience’ and spoke about the features that they brought to the Indian market to make the lives of their customers all so smoother. This acquisition seems like it makes so much sense for all parties and it won’t take long for both companies to see the benefits.