- News>
- Companies
Swiggy may acquire table-booking app Dineout: Check details here
Dineout, founded in 2012 by Ankit Mehrotra, Sahil Jain, Nikhil Bakshi, and Vivek Kapoor, immediately gained popularity with clients.
Highlights
- Dineout, founded in 2012 by Ankit Mehrotra, Sahil Jain, Nikhil Bakshi, and Vivek Kapoor, immediately gained popularity with clients.
- After two years of operation, the platform received an offer from Times Internet.
- With the air thick with rumours, it appears that Swiggy is on the same route as Zomato.
New Delhi: Swiggy, a food delivery aggregator, may acquire Dineout. The deal is still in the early stages of discussion. As of yet, the extent and magnitude of the transaction are unknown. However, previous discussions between CRED and Dineout valued the restaurant management and table-booking service at around $38 million.
According to Mint's sources, conversations for a buyout began about two months ago, when the platform was also looking for a deal with CRED. However, a person close to the situation stated that it is still in the early stages, and the buyout, as well as its financial size, have yet to be confirmed.
Dineout, founded in 2012 by Ankit Mehrotra, Sahil Jain, Nikhil Bakshi, and Vivek Kapoor, immediately gained popularity with clients. After two years of operation, the platform received an offer from Times Internet. Times Internet purchased Dineout in 2014 for an estimated Rs.60 crores via its portal TimesCity. "There is nothing like that right now," Mehrotra said of the hotly debated issues in the headlines. These are ongoing discussions. We collaborate with Swiggy and CRED on a few initiatives, which could explain why this has come up."
With the air thick with rumours, it appears that Swiggy is on the same route as Zomato. Zomato, too, stretched its tentacles through numerous verticals, but had to close a few as a result. Swiggy's rumoured interest in acquiring Dineout could indicate that the food delivery aggregator intends to expand its operations into food and beverage solutions as well.
"Dineout has a widely utilised point-of-sale (PoS) system, a loyalty programme, and a table reservation system." Swiggy may acquire these technologies, staff, and consumers who are already utilising these platforms as a result of the acquisition," said Samir Kuckreja, creator of Tasanaya Hospitality, in an interview with Mint. Dineout obtained PoS technology in 2018 when it paid an unknown sum for Gourmet Passport and Torqus, a cloud-based PoS startup.
#mute