Zomato forays into US, Australia with Urbanspoon buy
Zomato — the restaurant search app — on Monday announced the acquisition of US-based Urbanspoon in an all-cash deal that would mark its entry into the US and Australia.Sources put the deal size at $60 million.business Updated: Jan 13, 2015 00:08 IST
Zomato — the restaurant search app — on Monday announced the acquisition of US-based Urbanspoon in an all-cash deal that would mark its entry into the US and Australia.
Sources put the deal size at $60 million (about Rs 378 crore).
Zomato, the fastest-growing restaurant directory which operates in more than 130 cities across 20 countries, claimed that the acquisition was its biggest so far.
The latest deal marks Zomato’s presence in 22 countries, with its coverage increasing from 300,000 restaurants to more than 1,000,000 across the globe.
Zomato’s traffic will also more than double from about 35 million visits per month to over 80 million, making it the largest online restaurant search service in the world.
“Urbanspoon has a strong presence in the US and the UK, and they also dominate restaurant search in Australia and Canada. We will soon be integrating the two products to bring the best to our users in the US as well as the rest of the world,” said Deepinder Goyal, founder and CEO of Zomato.
Zomato has raised in excess of $113 million (about Rs 712 crore) over multiple rounds of funding from various investors including Vy Capital, domestic e-commerce giant Info Edge (India), and Silicon Valley investor Sequoia Capital.
Since July, Zomato has been on an acquisition spree starting with MenuMania in New Zealand, Czech Republic’s leading restaurant search Lunchtime.cz for $2.25 million ( Rs 14.17 crore) in August. It later acquired Slovakia-based Obedovat.sk for $1 million ( Rs 6.3 crore) and followed it up with Poland-based Gastronauci in September, and Italy-based Cibando in December.
First Published: Jan 13, 2015 00:03 IST