Swiggy announced today that it has entered into a definitive agreement with Times Internet to acquire Dineout, India’s leading dining out and restaurant tech platform.
Dineout will continue to operate as an independent app post the acquisition.
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, an official statement said Friday.
Swiggy said it will double down on the synergies with Dineout’s offerings, including dining out table reservations and events.
“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,” the statement noted.
“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.”
“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,” said Ankit Mehrotra, Co-founder & CEO.
“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,” said Satyan Gajwani, Vice Chairman of Times Internet.