Cibando - Zomato's Fifth Latest Buy This Year
Dec 19, 2014 | Food and Beverage | Future Market Insights
Cibando, a media communications and quality content company caters to restaurants and other dining businesses. Cibando has an active global foodie community. With its fifth acquisition in 2014, Zomato will from now have a bigger presence including its presence across Brazil, Turkey, the Philippines, Sri Lanka, South Africa, Qatar, New Zealand, Portugal, Chile, etc.
Since, January 2014, Zomato has acquired Gastronauci in Poland, Obedovat in Slovakia, Lunchtime in Czech Republic, and MenuMania in New Zealand.
Zomato has stated previously that it will invest US$6 million in Italy in the next two years to grow their team and company in the country. However, Zomato has not disclosed the value of the acquisition. Cibando, founded by Guk Kim in 2010, is a team of 10 people. It is an online and mobile restaurant search service in Italy. Cibando offers around 7,000 professionally generated reviews and a large directory of photos taken by food photographers, with around 82,000 restaurants.
Zomato stated that the Cibando team will join Zomato and this integration will happen in coming few months, which will make Zomato available in all major cities in Italy. Currently, Zomato is a successful company which offers details of restaurants in many countries. It offers reviews, photos, menu, contact, and other details of restaurants in many countries. It also introduced ads in its app, which was a new addition to its revenue system.
Cibando has an iPhone app which allows users to locate restaurants in Milan, Rome, Florence, and other cities in Italy. With this acquisition, Zomato will be able to benefit from the large active global food community of Cibando.
According to Future Market Insights “This acquisition will turn into a profitable one for Zomato.” The combined strength of Zomato and Cibando will be 30-40 employees in the next few months. This will allow integrating the community of Cibando and the Zomato brand to attract even more followers.
Currently, Zomato gets around 35 million visits per month globally across its mobile app and website. Presently, 50% of the traffic for Zomato comes from its mobile apps. Deepinder Goyal, CEO at Zomato, stated that even if Cibando’s existing traffic and user base is a great start for them, they have a lot to learn about the regional market.
The immediate focus of Zomato will be on integrating Cibando into Zomato and creating the best comprehensive restaurant search service for the regional market. Since, Cibando is an important channel in Italy for restaurant owners to better convert their online visitors into paying clients, Kim stated that with this acquisition they will be able to provide even more detailed information to their users in Italy and beyond.
Zomato now has a presence in 20 countries; however, they plan to expand their business and are aiming to launch in 15 more nations in 2015. So, what’s next on the menu for Zomato?
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