Indian food delivery platform Swiggy is reportedly in preliminary discussions to acquire restaurant table booking app Dineout.
Three people familiar with the development disclosed that Swiggy intends to fully or partially buy the restaurant table booking company.
Established in 2012 by Ankit Mehrotra, Nikhil Bakshi, Sahil Jain and Vivek Kapoor, Dineout is present across 20 Indian cities. Dineout was acquired by Times Internet Limited in 2014.
With a workforce of 500, Dineout connects diners with restaurants offering discounts and deals.
It gives its users the option of cashless payments across its restaurant network, as well as an opportunity to earn cashback on every payment the user makes.
In November 2018, Dineout purchased Torqus Systems, a Cloud-based point-of-sale (PoS) provider, for an undisclosed amount.
One of the parties aware of the development said: “Talks with Swiggy began about two months ago. Late last year, Dineout was also in talks with Cred.”
Due diligence on the matter is currently underway, the person added. People familiar with the matter did not reveal the size of the potential deal.
Dineout co-founder 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.”
Last month, Swiggy raised $700m at a $10.7bn valuation. The financing round was led by investment firm Invesco.