US$3.25M: Zomato’s lunch bill in Czech Republic and Slovakia
Zomato acquires Lunchtime and Obedovat, the Czech Republic’s and Slovakia’s restaurant search services, for US$3.25M; will infuse a further US$2.5M into opsBy Twishy Shahi 22 Aug, 2014
Zomato, the Indian online and mobile restaurant search and discovery service, announced that it has acquired Lunchtime.cz and Obedovat.sk, the Czech Republic’s and Slovakia’s most popular restaurant guides respectively, for a combined amount of US$3.25 million.
Recently, it also acquired MenuMania, a popular New Zealand-based restaurant discovery service for an undisclosed amount.
Deepinder Goyal, Founder and CEO of Zomato said, “Both Lunchtime and Obedovat have strong business models that cater to the local market needs of discovery of lunch menus. Together, Zomato, Lunchtime, and Obedovat will be able to build the largest resource of restaurant information in the Czech Republic and Slovakia. We look forward to combining the best of both our business models to build an integrated product which the users as well as restaurant businesses will love once it’s rolled out over the next few months.”
“We’re thrilled to welcome Lunchtime and Obedovat into the Zomato family, and we look forward to working closely with them to leverage their local expertise. We are looking to infuse a further US$2.5 million into our operations in the Czech Republic and Slovakia over the next couple of years,” he added.
The Lunchtime and Obedovat teams will be working closely with the Zomato team following this acquisition.
“The next few months are going to be exciting for us at Lunchtime and Zomato. We’ll be able to combine our local expertise and focussed product offering around lunch menus, with the technology and rich content platform that Zomato brings to the table. The combined product will enhance the user experience by providing them with fresh, more in-depth restaurant information along with lunch menus, and will drive greater value to local restaurant businesses in the Czech Republic. Overall, it’s going to be a big win for users, business owners, Lunchtime, and Zomato,” said Igor Treslin, Founder and CEO, Lunchtime.
On the acquisition, Zdenko Hoschek, CEO of Creative Web Group (Parent company of Obedovat) stated, “The Lunchtime and Obedovat founding teams have spent a significant amount of time getting to know the founding team at Zomato, and are happy to see their strong focus on building a social restaurant discovery product. We respect their passion, and look forward to the Lunchtime and Obedovat teams becoming a part of Zomato.”
Zomato has been aggressively expanding its global presence with launches in Europe and Southeast Asia in the past six months, while also working to strengthen its presence in the existing markets. The latest acquisitions are a strategic move to establish Zomato’s presence in Central and Eastern Europe.
Zomato also has huge expansion plans in the Southeast Asian markets, including Indonesia, Malaysia and the Philippines.