Food Delivery aggregator, Swiggy may acquire Dineout. The acquisition is still in the early talks. As of now, the degree of the deal and its size is still obscure. However, the recent talks between CRED and Dineout measured the restaurant management and table-booking firm’s valuation in the vicinity of $38 million.
As per the sources cited by Mint, the talks of a buyout began roughly two months ago, when the platform was also seeking a deal with CRED. However, the source privy to the matter mentioned that it is still in the preliminary stage, and the buyout is yet to be finalized, along with its capital size.
Founded by Ankit Mehrotra, Sahil Jain, Nikhil Bakshi, and Vivek Kapoor in 2012, Dineout quickly gained traction among customers. After two years of the platform being functional, it saw an offer from Times Internet. Times Internet, through its platform TimesCity, acquired Dineout in 2014 for an estimated value of Rs.60 crores. Talking about the discussions simmering in the news, Mehrotra said, “There is nothing like that as of now. These are talks that keep happening. We are partners with Swiggy and CRED on a couple of initiatives, and maybe that is why this has come up.”
With the air getting filled with speculations, it seems that Swiggy might be heading down the same path as Zomato did. Zomato, too, expanded its tentacles using various verticals and, in the process, had to shut a few as well. Swiggy allegedly mulling over acquiring Dineout might be a sign that the food delivery aggregator is aiming at expanding its business in food and beverage solutions as well.
“Dineout has a point-of-sale (PoS) system that is widely used by restaurants, a loyalty programme, and a table reservation system. The acquisition could lead to Swiggy acquiring these technologies, teams, and the customers using these platforms already,” said Samir Kuckreja, founder, Tasanaya Hospitality, in an interview with Mint. Dineout got equipped with the PoS technology in 2018, when it acquired Gourmet Passport for an undisclosed amount, along with Torqus, a cloud-based PoS firm.