Contxto – TheFork, a restaurant search engine and booking platform belonging to TripAdvisor, recently announced plans to acquire its South American counterpart, Restorando.
With more than 4.5 million active Restorando users, the Argentine startup owns 5 percent of Latin America’s reservation market share.
In the long run, this acquisition will allow TheFork to expand Latin American operations where Restorando already yields great influence. Specifically, the group maintains a strong presence in Argentina, Mexico, Brazil, Chile, Colombia, Peru, Uruguay
Today, TheFork offers reservations at more than 60,000 restaurants across 18 different markets. With the Restorando purchase, though, it will add more than 3,500 restaurants from eight countries to its network.
TheFork was acquired by TripAdvisor in 2015. After that transaction, the online booking platform’s alternative revenue reached US$8 million over the last year. Ever since they spotted this opportunity, they have started investing more money into the industry.
What is Restorando?
Restorando is a marketplace app allowing users to search, discover and make restaurant reservations in various Latin American states. Founded in Buenos Aires in 2011, the company has expanded quickly throughout the region.
This partnership will allow us to offer services to a larger number of diners around the world.Bertrand Jelensperger, TripAdvisor’s Senior VP and TheFork Founder
Although Restorando will still operate under its original name, the company will gradually transition into TheFork’s branding. Franco Silvetti and Frank Martin, Restorando’s co-founders, will still run the venture.