Digital Marketing Agency, International restaurant search provider Zomato, which was founded in India in 2008 with its operation in more than 20 countries and 130 cities globally, has bought Urbanspoon from IAC for between $50 and $60 million in cash.
It is worth noting that Zomato recently received $60 million in funding from Sequoia Capital, most of which is spent on this acquisition to enter the North American market. According to Zomato, the company’s already a dominant player in markets across the globe, including India, the UK, Europe, South East Asia, and South America.
The company indicated that Urbanspoon will more than double Zomato’s web traffic from 35 million visits per month to over 80 million.
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