Tuesday, January 13, 2015
Zomato acquires Urbanspoon for undisclosed fee
MANILA - Restaurant search services provider Zomato acquired U.S.-based rival Urbanspoon for an undisclosed fee in an all-cash deal, the company announced on Tuesday.
This marks Zomato's entry into the United States, Canada and Australia, and will result in the company's presence in 22 countries.
"Urbanspoon has a huge following, and is home to legions of people who are as passionate about food as we are," said Zomato founder and CEO Deepinder Goyal in a statement.
"We will soon be integrating the two products to bring the best of both products to our users in the United States as well as the rest of the world," he added.
The latest move, according to Zomato, will increase its restaurant coverage from around 300,000 to more than one million. It is also expected to more than double the service's traffic, from about 35 million visits per month to more than 80 million visits per month.
"Zomato's significant investments in people and technology will bring Urbanspoon customers, restaurant owners, and food bloggers a number of new capabilities and features. We’re excited to combine our strengths to accelerate growth," said Urbanspoon CEO Keela Robison.
This is Zomato's sixth acquisition in the last six months. Zomato has recently acquired local dominant restaurant search players in New Zealand, Poland, Czech Republic, Slovakia and Italy.
source: www.abs-cbnnews.com