New Delhi: Zomato, restaurant search app, has acquired US based Urbanspoon for an undisclosed amount in an all-cash deal.
The acquisition marks Zomato's entry into the United States, establishing presence in Australia and Canada, while adding to its already dominant position in United Kingdom and New Zealand.
In the past six months, Zomato has acquired six local, dominant restaurant search players in New Zealand, Poland, Czech Republic, Slovakia, Italy to expand its global footprint.
With this acquisition, Zomato will be present in 22 countries across the world.
Zomato’s restaurant coverage will increase from about 300k restaurants to more than 1 million restaurants across the globe.
The traffic will more than double from about 35 million visits per months to more than 80 million visits per month, probably making it the largest restaurant search company in the world.
With the take- over, company's inventory of restaurants shoots from 300,000 to more than 1,000,000 globally.
"Our US entry has been in the cards for a while now, and we're delighted to be doing so by welcoming Urbanspoon into Zomato. They have a strong presence in the US and the UK, and they also dominate restaurant search in Australia and Canada. Urbanspoon has a huge following, and is home to legions of people who are as passionate about food as we are. 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,” said Deepinder Goyal, Founder and CEO, Zomato.
The teams will be working closely over the coming months to integrate Urbanspoon into Zomato.
In due course of time, all Urbanspoon traffic will move to Zomato.com, and all Urbanspoon app users will be able to use the Zomato app.
This acquisition also has a lot to offer to restaurant businesses. Zomato's hyperlocal advertising model, combined with the
Zomato for Business app suite, will allow restaurant businesses to reach out to, connect with, and engage customers like never before.
"Zomato has experienced phenomenal growth in recent years, and our customer bases complement each other's perfectly," said Keela Robison, Urbanspoon CEO.
"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,” added Robinson.
This is Zomato's sixth and the biggest acquisition in the last six months. Zomato has recently acquired local dominant restaurant search players in New Zealand, Poland, Czech Republic, Slovakia and Italy.