">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Wednesday, January 27, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Business

Developing: India’s Zomato in talks to acquire Kenya’s EatOut

Sam Wakoba by Sam Wakoba
6 years ago
in Business, India Edition, Startups
11 min read
0

Related posts

Kenya’s Insuretech startup Pula raises $6m to scale up operations in 13 markets across Africa

January 26, 2021
0

Finnfund & Norfund double Starsight’s funding to $20 million for Ghana expansion

January 23, 2021
0

African tech startup funding passes $700m in 2020 despite COVID-19

January 23, 2021
0

Free money transfer service Taptap Send launches its services to Kenya

January 22, 2021
0

eatout

 

Popular restaurant discovery service Zomato is said to be in talks to acquire Kenya’s EatOut, a local restaurant guide and booking engine which was launched by Mikul Shah in 2010.

Though EatOut denies any such talks, of interest to Zomato is EatOut’s restaurant guide and booking engine.

EatOut regional presence

EatOut claims to have sat over 500,000 diners at various restaurants in the region and its estimated USD 10M in revenue generated for its restaurant partners since its launch. EatOut plans expansion routes to Rwanda, Tanzania, Uganda, Mauritius, Egypt, Ethiopia, and Zimbabwe are in line with Zomato’s hunger for world domination.

The Africa Media Ventures Fund ($200k for 7.9 % stake) backed firm also has ambitious to build a world class dining culture in Africa and be the most comprehensive online restaurant guide and user reviews portal also runs Nairobi Restaurant Week, Taste andYummy magazine and is working on drink and beverage delivery platform.
International partnerships
EatOut this week signed a deal with Uber and Twitter for its Nairobi Restaurant Week and the firm has too launched a loyalty card for restaurants for users to get offers, earn points on every dinner and drink and pay less next time.
Dubbed as the Yummy card, the first restaurant discount card gives users 10% off food to free beer samples to 50% off food for tables of 2 on Tuesdays at a number of restaurants in Nairobi.
Zomato’s appeal
Zomato, which is steadily overtaking Yelp, and expanding by the day since it launch in India already has operations in South Africa-Durban, Cape Town and Jozi and Kenya and Nigeria might be its next frontier after South Africa.With EatOut, an already established restaurant search engine, Zomato doesn’t have to reinvent the wheel especially after it acquired San Francisco’s UrbanSpoon in an estimated all cash $50 million deal.
UbarnSpoon was not Zomato’s first acquisition.
Hungry for more
In the recent past, Zomato has acquired MenuMania in New Zealand, Lunchtime in the Czech Republic, Obedovat in Slovakia, and Gastronauci in Poland and recently Cibando in Italy. Though the firm never made any acquisitions in South Africa, our sources say the firm now has the funds to acquire and grow faster to fulfil its global mission than launch a competitive service which might not pick up. And it has money.
logoMoney
Founded in India in 2008 as FoodieBay, Zomato is not broke. The firm has raised around $113 million putting its valuation to around $660 million. Just recently  Zomato closed a fresh round of funding of $60 million led jointly by Info Edge (India) Limited and Vy Capital, with participation from Sequoia Capital.
The $60m was to accelerate its global expansion and new product development.
Zomato had earlier raised USD 53 million from Info Edge (India) Limited and Sequoia Capital over multiple rounds of funding.
Business model
EatOut’s business model also fits into Zomato’s well. Zomato’s Restaurant banner advertising (web and mobile and apps) accounts to 75% of its revenue plus it offers event advertising and ticket sales and consulting services. Closer home, if the EatOut deal goes through, Zoato will have events such as Nairobi Restaurant Week, a print magazine, an online magazine and a loyalty programme. Zomato said it had an operating revenue of about 6 million in 13/14 trading year.

Inspiration

READ  Amazon to Acquire Rocket Internet's Fashion e-Tailer Jabong in a 1.2B Deal-Reports

EatOut, as a restaurant guide is hot cake for Zomato which also believes in restaurant discovery and need to serve the public to improve their dining experiences. Both Eatout and Zomato want to be the best platform restaurant owners to advertise as they are highly targeted advertising platforms than say on Facebook or Google ads.

It makes sense for anyone who logs online searching for the best restaurant and food globally to turn to Zomato and EatOut anytime than calling a friend.  The two save users time and increase the convenient for restaurateurs as they allow them to book for their dinners online and even review the restaurants and share with their friends just like Tripadvisor does for travelers.

 

Data

With everyday data colelction, use of social media and the growing signups and foodie events, it won’t be long before EatOut knows Nairobi’s favourite food and even eating time or day, this data will become a very lucrative source of income for its consultacy arm as restaurant owners run to know what sells and what time. Zomato also collects data from the cafes, bars and restaurants it serves and all this is cash but at the moment we will have to wait if the deal goes through or it doesn’t!

Readers 2,624

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Tags: EatOutIndiaUbarnspoonWebSimbaYelpZomato
Sam Wakoba

Sam Wakoba

Taking you on tour through Africa's tech ecosystem, one startup at a time! [email protected]

Related Posts

Startups

Kenya’s Insuretech startup Pula raises $6m to scale up operations in 13 markets across Africa

January 26, 2021
0
Startups

Finnfund & Norfund double Starsight’s funding to $20 million for Ghana expansion

January 23, 2021
0
Startups

African tech startup funding passes $700m in 2020 despite COVID-19

January 23, 2021
0
Startups

Free money transfer service Taptap Send launches its services to Kenya

January 22, 2021
0
Health

54gene launches a genome sequencing lab to track infectious and non-communicable diseases prevalent in Nigeria

January 22, 2021
0
Startups

Uganda’s Innovex raises funding from Gaia Impact Fund to enable remote monitoring for solar companies

January 22, 2021
0
Startups

Aerobotics Raises $17 Million Led by Naspers To Scale AI for Agriculture Globally

January 21, 2021
0
Startups

Tanzanian money remittance startup NALA is launching in the UK

January 21, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Samsung, Safaricom partner to push Samsung Galaxy S21 pre-orders

January 26, 2021

Safaricom’s M-PESA Bill Manager brings digital receitps, bills and invoices to businesses & landlords

January 26, 2021

8 Facts People Don’t Know About Bitcoin

January 26, 2021

Stranded in Lockdown? Here Are 3 Ways You Can Make Money Via Cryptocurrencies Online

January 26, 2021

3 Tips On Avoiding Cryptocurrency Scams

January 26, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: