Zee Media Bureau
New Delhi: In one of the biggest overseas deal by an Indian start-up, leading restaurant serve app Zomato has acquired US-based food portal Urbanspoon in an all cash deal of about USD 60 million.
The deal will bring Zomato in direct competition with Yelp, a California-based service provider that helps people locate business, reviews, etc.
Already prominent in over 20 countries across the globe, Zomato's acquisition of Urbanspoon marks the company's entry into the US and Australian market.
The sixth acquisition in as many the last few months, Zomato had recently acquired dominant restaurant search players in various countries such as New Zealand, Poland, Czech Republic, Slovakia and Italy.
With the acquisition of Urbanspoon in US, Zomato will now be present on 22 countries across the globe.
“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," Zomato Founder and CEO Deepinder Goyal said.
