Swiggy has agreed to buy Dineout, eating out and restaurant technology platform, from Times Internet. After the takeover, Dineout will continue to function as an independent app.
Swiggy will be able to cater to any meal occasion thanks to Dineout's unique assets and leadership position in the eating out industry. Swiggy will expand its synergies with Dineout's products, which include eating-out table bookings and events.
Dineout delivers an industry-leading network of over 50,000 restaurant partners, as well as experience and time-tested technology. Dineout was founded in 2012 by Ankit Mehrotra, Nikhil Bakshi, Sahil Jain, and Vivek Kapoor as a pioneer in contactless dining, assisting patrons in discovering the best restaurants in the city, making table reservations, and enjoying discounts and privileges across select restaurants via Dineout Passport and Dineout Pay. After the transaction is completed, Mehrotra, Bakshi, Jain, and Kapoor will join Swiggy.
"Dineout is a well-known brand with strong customer and restaurant loyalty." "Through their products, technology, and a large variety of restaurant partners, Times Internet and the founding team should be acknowledged for the revolutionary impact they have brought about in the eating out experience," Swiggy CEO Sriharsha Majety stated. "Through the purchase, Swiggy will be able to explore synergies and provide new experiences in a high-use sector."
Mehrotra, who is also the CEO of Dineout, stated that they have always aimed to revolutionize the restaurant sector and that this purchase is an important step in that direction. "We are certain that our combined efforts will help deliver a comprehensive platform in this market, thanks to Swiggy's extensive grasp of the ecosystem and our shared desire for a superior customer and restaurant experience."
"We are happy with the good effect that Dineout has produced for customers and restaurants, helping streamline and improve the eating out experience," said Satyan Gajwani, vice-chairman of Times Internet, which is part of the Times Group that publishes this journal. Swiggy + Dineout is a potent combination, and we are pleased to collaborate with Swiggy as we seek new ways to surprise consumers."
Swiggy has reinforced its food delivery business, grown its fast commerce grocery company, Instamart, to 28 locations, and Genie, its pickup and drop service, to 68 cities in the previous 20 months.