Delhi based Zomato, one of the world’s largest restaurant search service has acquired Italy’s leading restaurant search service Cibando. With this acquisition Zomato is now present across 20 countries worldwide.
Cibando will soon be integrated with Zomato, and over the next few months, users will be able to use Zomato for all major cities in Italy.
This is Zomato’s fifth acquisition in recent months. Zomato acquired MenuMania in New Zealand, Lunchtime in Czech Republic, Obedovat in Slovakia, and Gastronauci in Poland recently.
Deepinder Goyal, Founder and CEO of Zomato, said, “Cibando is one of the largest restaurant search services in Italy. Their existing traffic and user base will give us a great start as we launch Zomato in the country. And we love the Cibando team – I think we have a lot to learn from them about the local market. The entire Cibando team is joining Zomato and will lead the effort of building the business in Italy. We are really excited to be joining forces with them as we focus on being Italy’s – and the world’s – go-to restaurant search service.”
Zomato will invest $6 million in Italy over the next two years to grow the team and the business in the country. The current Cibando team has 10 people, and over time, they expect to hire at least 150-200 people across the top six cities in Italy.
Zomato recently raised $60 Million in a fresh round of funding, led by Info Edge (India) Limited and Vy Capital, with participation from Sequoia Capital. This fresh funding valued Zomato at $660 Million, thus enlisting it among the very few app based Indian tech startups with a $500 Million+ valuation.