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DealStreetAsia

Taiwan app buys Malaysia restaurant reservations platform

FunNow hopes integration of Tableapp will draw more users by offering discounts

A Muslim family pray inside their restaurant during the holy month of Ramadan, amid the coronavirus disease outbreak, in Selayang, Malaysia April 27, 2020.    © Reuters

KUALA LUMPUR -- Taiwan-based entertainment booking app FunNow has acquired Malaysia's online restaurant reservations provider Tableapp for an undisclosed sum comprising cash and shares.

"Now with Tableapp, we are set to become the largest reservation platform in Malaysia," said FunNow founding partner and Head of Southeast Asia Philip Ting in a statement on Wednesday.

FunNow is a reservation platform for entertainment and leisure venues, including lounge bars, bistros, spas, and beauty centers in various cities in Asia. It counts Alibaba Entrepreneur Fund and CSV Venture Fund as strategic investors. The latter is jointly managed by Japan's NEC Capital Solutions and Venture Labo Investment.

Tableapp is a Malaysian startup providing restaurant reservation and table management tools. Since its establishment in 2013, Tableapp has seated over 6.3 million diners.

"The combined entity enables restaurants to sell their empty tables at the last minute while, concurrently, attracting a bigger user base to capitalize on discounts and offers," Tableapp founder and CEO Benson Chang said. "The combined platform also helps eliminate no-shows for restaurants while also providing deals for diners.

Chang will join FunNow as Malaysia director and head the operations of the combined platform in Malaysia.The acquisition will result in Tableapp's current investors, including SEA Unicorn, global venture capital firm 500 Startups, and Singapore-based venture capital firm Crystal Horse Investments together with Tableapp's core team led by Chang, becoming shareholders of FunNow.

For the original story from DealStreetAsia, click here.

DealStreetAsia is a financial news site based in Singapore that focuses on private equity, venture capital and corporate investment activity in Asia, especially Southeast Asia, India and greater China. Nikkei owns a majority stake in the company.

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