Online restaurant search service company Zomato continues to be on an acquisition store. The firm, launched in 2008 and valued at $660 Million, announced it had acquired Turkey based Mekanist. However, the company did not disclose the size of the deal, but it is estimated at $35-50 Million. This is Zomato seventh acquisition in last seven months.
A few days earlier, Zomato had acquired Urbanspoon in the US for $52 Million. With the acquisition of Mekanist, the restaurant search company will expand into several cities in Turkey. Its coverage will increase from about 27,500 restaurants in Istanbul and Ankara to about 75,000 across the country, serving users about three million times a month.
Ali Servet Eyuboglu and Eren founded Mekanist eight years ago. Zomato had forayed into Turkey in November 2013, making its website and apps available to users in Turkish and English. Through the next two months, the company will roll out an integrated product in the two languages for users and business owners. Zomato has a team of 27 people in Turkey; most of them who are is based out of Istanbul.
Mekanist has about 190,000 listed establishments such as popular restaurants, cafes, and bars, along with about 500,000 reviews from its 1.5 Million signed up user base on the web and mobile platforms. Mekanist entire traffic and restaurant related content would now move to Zomato, while Mekanist app users will be able to use the Zomato app. In addition, restaurants could benefit from Zomato hyper-local advertising model and target customers. The ‘Zomato for Business’ app suite will help restaurant businesses connect and engage with customers.