Looloo, a restaurant and travel discovery app in the Philippines, has been acquired by London Stock Exchange-listed food tech group BigDish Plc. The financial details of the deal have not been disclosed.
One of the Philippines’ leading platforms in the restaurant and travel discovery space, Looloo provides its users with information, recommendations and reviews on restaurants, hotels and travel. 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.
Joost Boer, CEO of BigDish, which operates a yield management platform for restaurants, said:
“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.“
In a London Stock Exchange statement, BigDish confirmed that Looloo’s current staff will be transferred over and continue to help develop the company’s platform.