BigDish PLC Acquisition of Looloo (9265X)
August 16 2018 - 2:00AM
UK Regulatory
TIDMDISH
RNS Number : 9265X
BigDish PLC
16 August 2018
16 August 2018
BigDish Plc
("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.
Highlights:
-- 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.
Enquiries:
Blytheweigh +44 (0) 20 7138 3204
Tim Blythe
Julia Tilley
Simon Woods
bigdishplc.com
@bigdishIR
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END
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