Taiwan-based FunNow has acquired the startup, TABLEAPP. FunNow hopes the acquisition will bring more enriching reservation experiences by connecting patrons to restaurants and hospitality outlets more efficiently and seamlessly.
According to Philip Ting, Founding Partner and Head of Southeast Asia of FunNow, the combined entity results in “the breakthrough of a powerful 360-degree hospitality solution resulting in more spontaneous and enjoyable user experiences: from making instant reservations to accessing last-minute deals in the Klang Valley.”
Ting was speaking after Taiwan-based market leader FunNow has successfully acquired TABLEAPP in providing restaurant reservation and table management tools, through an undisclosed sum comprising cash and shares.
FunNow, an innovative app known for helping users find last-minute entertainment in various cities throughout Asia, counts the Alibaba Entrepreneur Fund and CSV Venture Fund as its strategic investors. The latter is jointly managed by Japan’s NEC Capital Solutions and Venture Labo Investment.
Since its establishment in 2013, TABLEAPP has seated over 6.3 million diners.
Ting shared that there is a growing trend of diners and restaurateurs relying on online reservation platforms, and more so since Covid-19 due to required social distancing measures.
“This acquisition of TABLEAPP aligns with FunNow’s mission of creating more memorable experiences, a big part which is for users to be spontaneous before enjoying what lies ahead through a powerful reservation platform within their mobile devices. Now with TABLEAPP, we are set to become the largest reservation platform in Malaysia and soon other cities in Southeast Asia for urbanites.” said Ting.
Meanwhile, Benson Chang, TABLEAPP founder and CEO, believes that the combined strengths of both entities would result in “a solid 360-degree total solution that has been long-awaited by F&B businesses, while fuelling the industry even further.”
“TABLEAPP has been enabling a centralised F&B digital solution including reservation and table management system for merchants since our establishment seven years ago. We are the leading provider of online restaurant reservations in Malaysia while FunNow offers users the best price points on lifestyle activities,” said Chang.
“The combined entity enables restaurants to sell their empty tables at the last minute while, concurrently, attracting a bigger user base to also capitalise on discounts and offers,” he added.
“The combined platform also helps eliminate no-shows for restaurants while also providing deals for diners – a win-win solution indeed.”
Benson Chang will join FunNow as the Director and head the operations of the combined platform in Malaysia.
Meanwhile, the TABLEAPP team joining FunNow will be based at the FunNow Malaysia office in Kuala Lumpur while its core restaurant reservation and table management tools for merchants will continue to operate as standalone applications.
The acquisition will result in TABLEAPP’s current investors including SEA Unicorn, an investment holding company controlled by former PIKOM Chairman Ganesh Kumar Bangah, global venture capital firm 500 Startups and Singapore-based venture capital firm Crystal Horse Investments together with TABLEAPP’s core team led by Benson Chang, becoming shareholders of FunNow.