Thu, 16th Aug 2018 07:00
16 August 2018
("BigDish" or the "Company")
Acquisition of Looloo
BigDish Plc (LON: DISH), a food tech company that operates a yield management platform for restaurants, is pleased to announce the completed acquisition of Looloo, a web and app-based restaurant and travel discovery business focused in the Philippines.
· Following Admission to the London market on 2 August 2018 BigDish has completed the acquisition of Looloo
· BigDish to grow its current userbase in the Philippines via Looloo
· Consideration of options to further enhance synergies between Looloo and BigDish platforms
Joost Boer, CEO, commented:
"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 commenced cooperation with Looloo on 19 January 2018 when it acquired Looloo's assets in the Philippines. Looloo's current staff will be employed by BigDish and continue to help develop the Company's platform in the coming months.
The initial stage of Looloo's incorporation into BigDish will be to commence marketing the Company to Looloo's current userbase via content and email marketing, with a view to organically driving restaurant bookings in the Philippines through the BigDish platform. Additionally, the BigDish logo and a link to the website will be added to every webpage of the Looloo website (http://www.looloo.com) which has thousands of web pages within the month, and is expected to increase the Company's brand image in the Philippines.
Further consideration to enhance the synergies between the Looloo and BigDish platforms continue to be explored, with the prospect of integrating BigDish reservation functions into Looloo's website and app in due course.
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