Taiwan-based lifestyle app FunNow has announced its merger with restaurant booking app Eatigo, marking a significant move to expand its reach in Southeast Asia. The deal, which remains undisclosed in terms of financial details, is being touted as the largest post-COVID online-to-offline merger and acquisition in Southeast Asia.
Key Takeaway
Taiwan-based lifestyle app FunNow has merged with restaurant booking app Eatigo to broaden its reach in Southeast Asia. The merger, which is the largest post-COVID online-to-offline merger and acquisition in the region, will allow the combined entity to leverage its economic scale and drive growth in the food and beverage sector. While the two apps will continue to operate separately, their business operations will be integrated to optimize user experience and maximize revenue.
Merging for Success
As part of the merger, Eatigo has become a strategic shareholder in FunNow Group. Eatigo’s CEO, Michael Cluzel, will join FunNow’s board, while TK Chen, the CEO of FunNow, will continue in his role as president and CEO of the combined entity.
FunNow, founded in 2015, boasts a user base of 2.5 million across five Asian countries—it allows users to book activities on-demand. The platform employs a dynamic pricing strategy, enabling businesses on its platform to offer different prices to customers based on supply and demand. FunNow has steadily expanded beyond its Taiwan roots to include Japan, Hong Kong, Malaysia, and Thailand through a series of strategic acquisitions, including TABLEAPP and Niceday.
Eatigo, founded in Bangkok in 2013, operates in Thailand, Hong Kong, Singapore, Malaysia, and the Philippines. The platform utilizes yield management techniques, which help restaurants fill their off-peak hours by offering discounts of up to 50%. With a user base of five million, Eatigo has established itself as a leading player in the restaurant booking space. TripAdvisor is among its investors.
A Match Made in Market Opportunities
The decision to merge the two companies was fueled by the potential to achieve greater economic scale while keeping operational costs low. TK Chen explains that with the merger, FunNow can focus more resources on the food and beverage (F&B) sector—a vital segment of the lifestyle industry in which FunNow operates. By joining forces, the newly formed entity expects to double its revenue.
Though the FunNow and Eatigo apps will continue to operate independently, their business operations will be integrated, leveraging the strengths of both platforms to offer an enhanced user experience.
