Eatigo

Eatigo operates a mobile and web-based platform that provides restaurant reservation services, addressing the market inefficiency of empty tables. The company was founded in Bangkok in 2013 by Michael Cluzel, Judy Tan, Siddhanta Kothari, and Pumin Yuvacharuskul, a team of veterans from the telecommunications industry. Several of the founders met while working at Millicom International Cellular and applied the principles of yield management, famously used by airlines, to the restaurant industry. The service first launched its website in Thailand in June 2014 and expanded to Singapore eight months later.

The core of Eatigo's business is connecting diners with restaurants through a time-based discount model. Users can browse participating restaurants and book tables, receiving discounts of 10% to 50% depending on the time of day. The most significant discounts are typically offered during off-peak hours, allowing restaurants to increase their utilization and fill seats that would otherwise remain empty. This model aims to shift consumer behavior towards dining during non-peak times. For diners, the service is free to use and does not require coupons or upfront payments, with reservations confirmed via email. Eatigo's revenue is generated by charging restaurants a pre-determined, fixed fee for each seated diner that books through the platform.

The company has undergone significant growth and strategic expansion. By October 2016, Eatigo had secured a US$15.5 million Series B investment from TripAdvisor, which brought its total funding to that point to US$15.5 million. A pre-Series C round in July 2018, also involving TripAdvisor, increased the total capital raised to over US$25 million. This funding facilitated expansion into new markets including the Philippines, Hong Kong, Malaysia, and India. In 2017, Eatigo entered the Indian market through the acquisition of Pune-based competitor Ressy. A major strategic development occurred in September 2023 when Eatigo was acquired by FunNow, a Taiwanese lifestyle marketplace. Following the merger and acquisition deal, Eatigo continues to operate under its own brand as a subsidiary of the FunNow Group, with former Eatigo CEO Michael Cluzel joining the board.

Keywords: restaurant reservations, yield management, online marketplace, time-based discounts, foodtech, table booking, dining deals, Southeast Asia, customer acquisition, merchant services