The popular restaurant search app Zomato has acquired Urbanspoon for $55M. Urbanspoon is an information platform allowing users to find local restaurants and submit recommendations and reviews based in Seattle, USA. Urbanspoon is a dominant player in Australia, Canada, New Zealand, Ireland, the United Kingdom and the United States.
Founded in 2008 by Deepinder Goyal and Pankaj Chaddah, Zomato provides information for over 282,000 restaurants in over 20 countries. Post acquisition, Zomato will now be present in 22 countries, list over 1 million restaurants, and have 95 thousand reviewers.
Over the coming months, the Zomato and Urbanspoon teams will be working closely to integrate Urbanspoon’s listings, ratings, user accounts and more into the Zomato system.
The biggest challenge and most fun part of this move, however, is the fight we’re going to be picking with Yelp. In the market they have dominated for so long. After all, like Mark Twain famously said, it isn’t the size of the dog in the fight, it’s the size of the fight in the dog, says Deepinder Goyal, founder of Zomato.
Read more about Zomato’s new logo here.
Zomato was built-in 2008 for the love of food. Since then over 30 million people use Zomato to search and share their stories of interesting cuisines and food. Zomato’s core content features include menus, photos, geocoded coordinates for restaurants, and the newly launched Collections. It also lets users find, rate, and review restaurants, as well as engage in social interactions with other foodies.
Zomato has raised $60M funding from Sequoia Capital and Info Edge in last November. Most of these funds have been used for this acquisition. They have raised $113.8 M in 6 Rounds from 3 Investors till now. Urbanspoon is Zomato’s sixth acquisition. Previously they have acquired Menu Mania, Obedovat, Lunchtime, gastronauci and Cibando. [source: Crunchbase]
The acquisition of Urbanspoon is important for Zomato as they make entry to US, Canada and Australia. This is good for India as one of the Indian Startup is making waves in the outside world. Kudos to Team Zomato and Urbanspoon as they start working towards creating a better and bigger Zomato. Made in love with India and making India prouder.