The acquisition, which is likely an all-stock deal, is expected to wrap up over the next month, people aware of the discussion told ET asking for anonymity.
Through the deal, Swiggy will double Dineout’s offerings, including outside dining table reservations and events. Dineout’s partner restaurants will have access to Swiggy’s vast customer base, allowing them to increase their reach. Archrival
started as a table booking platform and continues to run that business.
Dineout is part of Times Internet, which also runs the ETtech website.
Founded in 2012 by Ankit Mehrotra, Nichil Bakshi, Sahil Jain Other Vivek Kapoor, Dineout allows customers to discover restaurants in their area and make table reservations through its network of 50,000 restaurants in 20 cities. It also provides restaurant solutions regarding contactless dining and also offers discounts and privileges to select restaurant customers via Dineout Passport and Dineout Pay.
Dineout was acquired by Times Internet in 2014.
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“Dineout is a much loved brand that enjoys the loyalty of both consumers and restaurants. Times Internet and the founding team should be credited for the transformative impact they have brought to the dining experience outside the home through their products, technology and wide selection of restaurant partners, “said Sriharsha Majety, co-founder and administrator. Swiggy’s delegate.
“The acquisition will allow Swiggy to explore synergies and deliver new experiences in a high-use category,” added Majety. Swiggy will be able to use Dineout’s software solutions for restaurants, which spread across the marketing and payment domains.
Currently, Swiggy has a network of 1.90,000 partner restaurants and stores in over 520 cities. Over the past two years, Swiggy has expanded Instamart, its fast food delivery in 28 cities.
ET reported that Swiggy has temporarily shut down its Genie pickup and drop-off service in major subways as the company struggles to hire a delivery workforce and keep up with demand.
“At Dineout we have always wanted to revolutionize the restaurant business and this acquisition is a step towards the same goal. We strongly believe that, with Swiggy’s deep understanding of the ecosystem and our shared passion for a superior dining and dining experience, our joint forces will help provide a holistic platform in this industry, “said Mehrotra. co-founder and CEO of Dineout.