TripAdvisor’s The Fork invests in Eatigo
While the size of Tripadvisor’s investment is not known, reports say that it is in excess of $10m. Eatigo has raised $15.5m so far – its Series A happened at the end of 2015.
Eatigo describes itself as a yield management and reservations platform. It works with restaurants which promote time-limited deals. Some 90% of the business it provides to restaurant comes during off-peak dining hours.
“The business model effectively takes the tried and tested yield management principles of charging different prices at different times used successfully in the travel and hotel industries and applies them to the F&B sector,” it says.
The cash will be used to expand Eatigo’s operations across southeast Asia.
TripAdvisor bought La Fourchette (The Fork) in May 2014. Currently focussed on Europe, it has 34,000 restaurant partners and 8 million monthly users. It is connected to the TripAdvisor mothership and provides availability and bookings on its restaurant and cities pages.
Bertrand Jelensperger, co-founder and CEO of TheFork, said:
“We are excited to be expanding our interests into Asia with this strategic investment. We share with Eatigo a common vision on discovery and yield management in the restaurant industry. We have also been impressed by this fast moving innovative business and by their ambition to quickly grow and scale the brand into other markets across South East Asia.”
Martin Cowen is contributing editor for Tnooz and is based in the UK. Besides reporting and editing, he also oversees our sponsored content initiative and works directly with clients to produce articles and reports.
For the past several years he has worked as a freelance writer, specialising in B2B distribution and technology.
Before freelancing, from 2000-2008, he was launch editor for e-tid.com, the first online-only B2B daily news service for the UK travel sector.