The Indian based online restaurant search and discovery company has purchased the restaurant information site, Urbanspoon for an undisclosed amount. However, sources say it was between $50-60 million. The current Urbanspoon employees will be retained, but by the end of March, the website's traffic will be redirected to Zomato's website and app.
Zomato started by providing restaurant listings in major cities in India, but now with its expansion in the US– Zomato is present in 22 countries. What makes this website different than others is that it does not rely on user-generated reviews. Instead, Zomato employees in each city provide the content for the restaurants. The listings (currently, there are 300,00 restaurants) are uploaded every three months.
Zomato has purchased companies in Italy, Turkey, New Zealand, Poland– to name a few. But, this is the biggest investment the company has made so far. Read More