Online restaurant table reservation platform Eatigo has marked its debut in the India market with the acquisition of Ressy, a Pune-based table reservation platform operating in Pune and Mumbai. The acquisition has been done as part of Eatigo’s expansion to India, through an asset purchase agreement signed in April 2017. Backed by TripAdvisor, Eatigo now operates in six markets – Thailand, Singapore, Malaysia, Hong Kong, India and the Philippines.
The company launched its first operations in Thailand in 2014, followed by Singapore in February 2015. Whereas, in September 2016, Eatigo received Series B funding from TripAdvisor and subsequently launched operations in Malaysia, Hong Kong, India and the Philippines this year. The company has around 2000 associated merchants across the six markets, of which 300 hotels and restaurants belong to its India portfolio.
The company is leveraging upon its core, time-based discounting model, to drive growth in the India market, wherein it offers guaranteed discounts between 10 per cent and 50 per cent during different time slots throughout the day, mostly during off-peak times. Siddhanta Kothari, co-founder and chief financial officer, Eatigo, said, “We have observed that merchants are not much concerned about marketing, but are more stressing on filling seats. This is where our strategy of time-based discounts helps their businesses by filling tables during off-beat hours. This has the potential of increase revenues significantly.”
Supported by TripAdvisor with a total up-to-date funding of US$ 15.5 million, Eatigo is expecting its portfolio of associated merchants to reach 700-1000 by the end of this year. At present, some of the major associated hotels and restaurants in the country include Hyatt Hotels, Holiday Inn, Four Points by Sheraton, Pizza Hut, The Junkyard Cafe, Smokin’ Joes among others.
Speaking about expansion in other Indian cities, Kothari said, “We will evaluate the response generated in Mumbai and Pune and accordingly plan our expansion to more cities across the country.”