Zomato Acquires a Bengaluru-based Food-Tech Startup
Zomato, the online food delivery and restaurant discovery giant has reportedly acquired a Bengaluru-based startup known as TongueStun Food in a cash and stock deal. The startup is basically concerned with aggregating caterers and restaurants for office canteens.
Following this acquisition, the valuation of the company will reach $18 million as stated by the people involved in the transaction. Also, Deepinder Goyal, the co-founder & CEO of Zomato has confirmed the news of transaction. He also stated that they saw immense growth opportunity in the food at workplace segment.
"We don't see the ceiling to how big this market could become just yet. What we know is that this market is very high frequency, and customers are very sticky as they end up placing more than 20 orders a month on ...