Say goodbye to Urbanspoon, and hello to Zomato! The restaurant recommendation service/app has been sold to Zomato, an online restaurant service based in India.
Mashable reports terms of the deal were not disclosed, however a “source familiar with the matter” said Zomato paid more than $50 million for Urbanspoon.
Zomato’s founder and CEO, Deepinder Goyal, says the company is looking to use the Urbanspoon acquisition to get a foot in the door in the U.S., Canada, and Australian markets for Zomato. Zomato plans to discontinue the Urbanspoon brand.
“We will convert everything to Zomato,” Goyal said. “The brand is important for us. A lot of people respect it for what they’ve done. But we have to make a long-term versus short-term decision. In the longer term it should all be one brand.”
All Urbanspoon users can expect to be pushed over to the Zomato website and app in the near future.
Urbanspoon was an early hit for the iPhone, due to some promotion from Apple itself, and the novelty of shaking your iPhone to randomly select a nearby restaurant.
Zomato has reportedly raised more than $100 million in funding, and has been on an acquisition spree, buying a half-dozen companies, including Urbanspoon.
