Zomato, the Indian restaurant search and discovery service, announced that it has acquired MenuMania, a popular New Zealand-based restaurant discovery service for an undisclosed amount.
Started in 2006 by Auckland based Cristian Rosescu, MenuMania was the biggest competition for Zomato, that started its operations in Auckland and Wellington in July last year, and extended its services to Hamilton in December 2013. This is Zomato’s first acquisition globally.
Deepinder Goyal, Founder and CEO, Zomato
“We are thrilled to welcome MenuMania to Zomato,” said Deepinder Goyal, Founder and CEO, Zomato. “The MenuMania team is very passionate about restaurants and helping people discover new places to eat. We look forward to working closely with them to leverage their local expertise. Together, Zomato and MenuMania will be the largest resource of restaurant information in New Zealand, and I am sure both our users will love the integrated product once it rolls out over the next few weeks,” he added.
The founding team of MenuMania will be working closely with the Zomato team following this acquisition. The MenuMania website will eventually migrate to Zomato’s website to maintain a single identity.
“It’s going to be an exciting next few months to integrate MenuMania with Zomato. We will be able to combine our local knowledge about the market with the technology Zomato brings to the table. It will also deliver greater value to local restaurant businesses, as all the users in NZ will have access to their information on a common platform now. Overall, it is going to be a big win for our users, MenuMania, Zomato and business owners as well,” said Cristian Rosescu, Founder and CEO, MenuMania
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. This acquisition is a strategic move to establish Zomato’s presence in the Pacific region.
Goyal said, “This acquisition is the first of more to come, in our mission to be the dominant player in this space across the globe.” Goyal also declared that more such acquisitions of similar companies are in the pipeline in Southeast Asia and Eastern Europe. “However, it is too early to comment on any,” he added. The Southeast Asian market is twice the size of the Indian market for Zomato. Hence, it has huge expansion plans in these markets including Indonesia, Malaysia and the Philippines.
Also Read: Why is Southeast Asia an important market for Zomato?
Zomato is also coming up with a product which will allow users in India to pay restaurant bills through a mobile app. “The users just have to check in at the restaurant, open the tab and list down the orders. The app will keep a track of the orders and the bill will get automatically generated on their smartphones. The app will deduct the amount from the saved credit card details of the user. This service will save a lot of time of the restaurant owners as well as the consumers as they won’t have to wait for their bills,” Goyal said. It is expected to be launched within a period of six months.