Food Tech Company BigDish Acquires Philippines Restaurant & Travel Discovery Platform Looloo
Restaurant reservation platform has just announced the acquisition of Philippines restaurant & travel discovery business Looloo.
Looloo is a search-focused mobile & web platform that offers travel, hotel & restaurant reviews and recommendations for the Philippines.
The platform gets up to 500,000 unique visits every month, has over 28,000 restaurant reviews, and its app has been installed 200,000 times.
Food tech company BigDish runs an online platform that allows consumers to find restaurant deals & discounts of up to 50%.
The company, which listed on the Main Market on 2nd August 2018, currently operates in the Philippines, Indonesia and Hong Kong.
BigDish said it acquired the platform to grow its existing user base in the Philippines.
BigDish CEO & co-founder Joost Boer said: "Looloo is one of the Philippines' leading platforms in the restaurant and travel discovery space. Founded in 2012, it contains information, recommendations and reviews on restaurants, hotels and travel in the Philippines.
"It has over 28,000 restaurants recorded, a monthly average of up to 500,000 unique visits, approximately 200,000 app installs and over 320,000 reviews. Across its social media platforms, Looloo has also drawn a large audience with over 370,000 Facebook followers and tens of thousands of Instagram and Twitter followers which have been organically grown.
"The Directors of BigDish saw great opportunity in Looloo's restaurant discovery platform and large user base, which generates revenue through paid for content with low overheads, is approaching break even and has a strong growth potential.
"There are a number of potential synergies between a discovery platform such as Looloo and the BigDish yield management platform that we will be exploring in the coming months."
BigDish began its relationship with Looloo on 19th January 2018 when it acquired Looloo's assets in the Philippines.
With the completion of the acquisition, Looloo's staff will be employed by BigDish and they will continue to develop the company’s platform over the coming months.
The first stage of the integration between the two companies will see BigDish drive restaurant bookings on the BigDish platform using Looloo's current userbase via content and email marketing.
In due course, the food tech company plans to integrate the BigDish reservation functions onto the Looloo website & app.
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