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Swiggy acquires Dineout as it squares off against Zomato

Swiggy is moving past online delivery and onto the dining market.

Swiggy has entered into an agreement with Times Internet to acquire Dineout— a platform for restaurant discovery and online table booking, according to a press release. The companies did not share the financial terms of the acquisition, but TechCrunch reported that the all-equity deal is valued at $200 million. Why it matters: Swiggy’s acquisition is significant as it provides the company a foothold in the dining out space which will pit it against Zomato. Swiggy has largely kept its focus on delivery but this acquisition might see it making a play for a space that Zomato has come to dominate for years. Why acquire Dineout: The company will offer Swiggy a network of over 50,000 restaurant partners along with technical expertise. Swiggy also wrote that Dineout will help with setting up table reservations and events while drawing synergies from its offerings. It also provides restaurant solutions such as marketing, payments, and contactless dining besides discounts and privileges to customers across partner restaurants through Dineout Passport and Dineout Pay, Economic Times reported. Dineout has close to 5 million users, ET added. What will happen to Dineout’s team: Swiggy wrote that Dineout will continue to operate as an independent app post the acquisition and its team will be absorbed into Swiggy. The release added that founders Ankit Mehrotra, Nikhil Bakshi, Sahil Jain, and Vivek Kapoor will join Swiggy. Swiggy intends to combine its loyalty programme with Dineout Passport to create a single subscription for customers, ET said in its report. It will also…

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I cover several beats such as Crypto, Telecom, and OTT at MediaNama. I can be found loitering at my local theatre when I am off work consuming movies by the dozen.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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