Restaurant discovery service Zomato who has raised a handsome $37 million in late 2013 and launched simultaneously in Brazil, Indonesia and Turkey, seems fully stuck to its aggressive growth strategy. India-born company announced today that it moves further in Eastern Europe via the acquisitions of Lunchtime and Obedovat, the Czech Republic’s and Slovakia’s most popular restaurant search services.
Zomato said it will be paying $3.25M for the two startups combined. After the acquisitions, its database of restaurants now exceeds 250K entries from across 15 countries.
Deepinder Goyal, the founder and CEO of Zomato, said they will be integrating Lunchtime and Obedovat’s lunch menu discovery experience into Zomato’s own network with the help of the local teams. He also said they will infuse a further $2.5M into the operations in the Czech Republic and Slovakia over the next couple of years.
Zomato has been aggressively expanding over the past two quarters. It acquired MenuMania, the leading restaurant discovery service in New Zealand, in July 2014. The company says the latest acquisitions are a strategic move to establish Zomato’s presence in Central and Eastern Europe. The transactions are expected to close by September.
Zomato claims over 23 million monthly visits globally across web and mobile platforms. Founded in 2008 by Deepinder Goyal and Pankaj Chaddah, the company operates in over 100 cities across India, the UK, the Czech Republic, Slovakia, UAE, South Africa, Turkey, New Zealand, the Philippines, Portugal, Brazil, Chile, Indonesia, Sri Lanka, and Qatar.