Bengaluru-basedon Friday announced that it has entered into a definitive agreement with Times Internet to acquire , a dining out and restaurant tech platform. Dineout will continue to operate as an independent app post the acquisition.
According to the company statement, Swiggy will double down on Dineout’s offerings, including dining out table reservations and events.
Founders Ankit Mehrotra, Nikhil Bakshi, Sahil Jain, and Vivek Kapoor will join Swiggy once the acquisition is completed.
Speaking about the new development, Sriharsha Majety, CEO, Swiggy stated,
“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.”
“At Dineout, we always wanted to revolutionise 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,” added Ankit Mehrotra, Co-founder and 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.