Restaurant search service of Italy Cibando was acquired by online restaurant search firm Zomato on 19 December 2014. The terms of the deal are not disclosed.
The acquisition is expected to be completed till the end of December 2014. The new combined entity will grow to 30-40 people in the next three months and over time the Italy operation is expected to grow to 150-200 people.
Zomato would invest 6 million US dollar in Italy till 2017.
This is Zomato’s fifth acquisition. Zomato acquired MenuMania in New Zealand, Lunchtime in Czech Republic, Obedovat in Slovakia, and Gastronauci in Poland.
Zomato is present in 20 countries. The country is aiming to launch in 15 more countries in the next year or so. The firm gets about 35 million visits per month.
Deepinder Goyal is founder and CEO of Zomato.
Cibando has 82000 restaurants listed across various cities in Italy and has now a 10-member team.
When: 19 December 2014