Indian Startup Zomato Acquires Urbanspoon for $60 Million
The purchase marks Zomato’s entrance into the North American market after six months of careful expansion in other global markets including New Zealand, Italy, and Turkey. Zomato’s existing markets include India, the U.K., Europe, and South America.
The acquisition of Urbanspoon is expected to more than triple the company’s inventory of restaurants, from 300,000 to more than 1 million restaurants.
“We have been planning our entry into the North American market for some time, and Urbanspoon’s excellent reputation and foothold in North America, Australia, and the U.K. provides the perfect opportunity for our global growth,” said Deepinder Goyal, founder and CEO of Zomato. “We are delighted to welcome Urbanspoon and their audience into Zomato. We will soon be integrating the two platforms to bring the best of both products to all of our users.”