India’s leading food delivery company is about to takeover Dineout which was backed by Times internet at about $200 Million. Dineout was in negotiations with Cred, a prestigious monetary organization, however, Swiggy seems to have won the challenge. Swiggy and DineOut are in the end phases of negotiations for a $200 million exchange.

Swiggy and Dineout didn’t promptly comment on the turn of events.

Swiggy’s nearest rival Zomato is as of now in the dining out business.

About Dineout

Dineout is an online table booking platform that has been established with the purpose of aiding its users in discovering the best and most suitable restaurants near them and to help them in easily booking reservations. 

The platform had been established in 2012 by Ankit Mehrotra, Nikhil Bakshi, Sahil Jain, and Vivek Kapoor. Following the years of its establishment, Dineout has consistently upgraded its offered services. Alongside helping their users in discovering suitable restaurants, the platform also facilitates various services that effectively attract users. The users of the platform receive access to special offers across over 40,000 restaurants in the nation. 

Government Report

According to the National Restaurant Association of India (NRAI), in FY21, the Indian food services industry contracted severely leading to the permanent closure of over 25 percent of food business operators which resulted in job losses of nearly 24 lakh people.

“In FY21, the food services industry in India declined by 53 percent and was estimated to be worth Rs 2,00,762 crore, compared to Rs 4,23,624 crore in FY2020,” said Kabir Suri, President, NRAI.

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