Zomato acquired US based online table reservation platform NexTable for an undisclosed amount yesterday. Zomato is on buying spree to satisfy its hunger and achieve organic growth in online food ordering sector.
Recently Zomato has been valued $1 billion by the investors has raised $50 million from them. NexTable will be renamed as Zomato Book, relaunched in July. MaplePOS acquired by Zomato will be renamed as Zomato Base. NexTable is the ninth company acquired by Zomato in recent past. Urbanspoon is the largest acquisition for $52 million in January.
Zomato Base offers inventory and recipe management, analyses sales data to track each restaurant’s performance, generates electronic receipts with payment integration and menu management.
NexTable assists customers to make restaurant reservations online in real time. The platform includes table management and marketing tools for restaurants. Already Zomato has Bengaluru based MaplePOS in its pocket and with addition of NexTable adds much required steam to take on the biggest player Yelp in the market.
Zomato is positioning NexTable against Yelpme’s Seatme table management platform and Priceline’s OpenTable. NexTable has humble beginning when the founders faced a challenge faced by Asian Fusion restaurant in Charlotte NC. This was observed by Chief Technology Officer of NexTable TC DeSilva when he was having lunch with the owner of the restaurant Chi Zhang who ran the restaurant with brother in law Phong Luong.
Phong became the Chief Executive Officer of NexTable Inc. The platform was crafter by a team of passionate restaurant owners and software designers working to deliver solutions enabling restaurants and hospitality sector to improve operational efficiency, reduction in costs and increase in sales. The platform is user friendly and affordable with no contracts. It does not require any training or hidden charges or fees.
Deepinder Goyal, Chief Executive Officer of Zomato states “The product will hit the market with around 4,000 restaurant partners as of now. Over the next few months, we are aiming to offer this feature with over 10,000 restaurant partners in India.” He further added “We are hoping to start processing around 40,000 orders a day in the very near term.”
Pankaj Chaddah, Chief Operating Officer and co founder of Zomato says “We want to own the communication layer between restaurants and customers. NexTable will add to this layer by bringing in the convenience of easy, online reservations for thousands of restaurants to our millions of users.”