FunNow Merges with Eatigo to Expand in Southeast Asia

FunNow Merges with Eatigo to Expand in Southeast Asia

Key Points:

  • Merger Details: Taiwan-based lifestyle app FunNow has merged with Southeast Asian restaurant booking app Eatigo. Terms of the deal are undisclosed.
  • Stakeholders: Eatigo becomes a key shareholder in FunNow Group. Michael Cluzel, CEO of Eatigo, will join FunNow’s board.
  • FunNow's Footprint: Founded in 2015, FunNow has 2.5 million users and operates in Taiwan, Japan, Hong Kong, Malaysia, and Thailand.
  • Eatigo's Footprint: Founded in 2013 in Bangkok, Eatigo operates in Thailand, Hong Kong, Singapore, Malaysia, and the Philippines, with 5 million users.
  • Business Model: FunNow uses dynamic pricing based on supply and demand, while Eatigo uses yield management to book customers during off-peak hours at discounts up to 50%.
  • Revenue Impact: The merger is expected to double FunNow’s revenue. Both apps will continue operating separately but will combine business operations.

Strategic Rationale:

  • Synergy: The merger allows both companies to have a larger economic scale while keeping operational costs low.
  • Focus on F&B Sector: According to FunNow CEO TK Chen, Food & Beverage is a significant lifestyle category, and the merger allows them to focus more resources on it.

Bottom Line:

The merger appears strategically sound, aiming to combine FunNow's dynamic pricing strategy and Eatigo's yield management techniques. The move is designed to expand both companies' reach in Southeast Asia, particularly in the Food & Beverage sector.

Looking to understand your company’s valuation before your own fundraise or exit? At Clear Value we help founders of tech companies use comparable reports with structured market data to make better decisions around valuation well ahead of any investment or liquidity event. Find out how we can help here.

Back to blog