Eatigo was founded in 2013 with the goal of connecting empty tables with hungry stomachs by delivering time-based discounts of up to 50% at all of its member restaurants via its online website and mobile apps. eatigo is the top online reservations network for restaurants in Asia, with over 1.5 million members. It has seated over 5 million diners at over 4,000 venues around the region. Eatigo, which is backed by Tripadvisor, is currently available in Hong Kong, Singapore, Thailand, Malaysia, India, the Philippines, and Indonesia, with additional countries on the way. Users can choose to dine anywhere, from upscale hotels to popular food chains, and enjoy the same discounts with no strings attached, while restaurants get to fill their empty seats during off-peak hours. The best part? It’s completely free to use.
Founders
Eatigo was founded in 2013 in Bangkok by four ex-telecom veterans from Singapore, Thailand, India, and Germany, Michael Cluzel, Judy Tan, Siddhanta Kothari, and Pumin Yuvacharuskul.
Behind The Idea Box
Michael, Judy, and Siddhanta met in Cambodia while working for Millicom International Cellular, and this was the beginning of Eatigo. The four members based their innovation in the restaurant business on the concept of American Airlines charging varying airfares in the 1970s, which pushed up revenues and changed the industry.
In June 2014, online reservations did not take off in Thailand, where people used to wait for empty seats to become available during busy times. Eatigo came up with the best discounts at popular and upmarket restaurants supplying food, Haute cuisines, and more during off-peak hours, such as 45 minutes to 1 hour on each side of peak hours, satisfying empty bellies with the tastiest meals for individuals seeking food.
Eatigo connects you to the best restaurants in Bangkok, Singapore, Malaysia, Hong Kong, the Philippines, and India.
How does the platform work?
Users can search for restaurants and filter them by factors such as hotel buffets, cuisine type, or popular meals. Because the start-up company is known for its discount and off-peak eating bookings, you can narrow down your search by discounts ranging from 10% to 50%. The 50 percent discounts are most likely to be offered during off-peak hours, and restaurants are required to offer the deal at a specific time every day. Users are given a 30-minute time limit prior to the scheduled time. The confirmation of your reservation will be sent to your email address.
Also Read: Swiggy – The Ultimate Food Delivery App
Business Model
Revenue is the foundation of Eatigo’s business plan.
The company’s learning curve was steep. They finally dominated the internet table reservation sector with a market share of almost 95%. The online reservation firm placed a strong emphasis on explaining how and why their business worked.
The business strategy used tried-and-true yield management principles such as charging different prices at different times to create a profitable market.
Eatigo conquered Singapore by February 2015, although they were still the incumbents in Thailand. The corporation eventually controlled more than half of the market.
Funding and Revenue
Eatigo raised $25.5 million in total, with TripAdvisor as the principal investor. On October 4, 2016, TripAdvisor invested $15.5 million, followed by a $10 million Series B financing on July 16, 2018. Eatigo’s annual revenue is $4.7 million.
Competitors
Eatigo’s competitors include Eat App, Resy, OpenTable, and Yelp.
Being in a market where there are a plethora of internet applications Eatigo is the most popular restaurant reservation platform in Southeast Asia. Customers were drawn in by the airline-styled approach and walked themselves to the restaurants to dine and learn more about the cuisines.
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