India's rapidly growing Internet- and mobile-based companies have
attracted billions of dollars in funding in the last couple of years
from foreign investors including Japan's SoftBank Corp and Temasek
Holdings Pvt Ltd.
Some of the technology startups have used the private equity investments to acquire local peers to boost presence in a market that has the world's third-largest Internet user base, but overseas acquisitions are rare.
The acquisition of Urbanspoon, which marks Zomato's entry into the United States, Canada and Australia, will result in its presence in 22 countries, covering more than one million restaurants, Zomato said.
Seattle-based Urbanspoon, which was previously owned by media mogul Barry Diller's IAC/InterActiveCorp, competes with Yelp Inc, a popular website that lets users review and rate restaurants and other services.
Some of the technology startups have used the private equity investments to acquire local peers to boost presence in a market that has the world's third-largest Internet user base, but overseas acquisitions are rare.
The acquisition of Urbanspoon, which marks Zomato's entry into the United States, Canada and Australia, will result in its presence in 22 countries, covering more than one million restaurants, Zomato said.
Seattle-based Urbanspoon, which was previously owned by media mogul Barry Diller's IAC/InterActiveCorp, competes with Yelp Inc, a popular website that lets users review and rate restaurants and other services.
Source: City News Today
No comments:
Post a Comment