DN et al. sell Quandoo to Recruit Holdings for €198.6m

The all-cash transaction also saw Holtzbrinck Ventures, Piton Capital, the Sixt family and several business angels sell their stakes, which totaled 92.91%.

Tokyo-based Recruit Holdings already held a 7.09% stake in the company, having invested in Quandoo's fifth funding round in October last year. The restaurant reservation platform had raised around €30m in growth capital since its inception in 2012 at the time.

Quandoo stated it plans to expand into all continents, where it will provide users with additional services alongside its core online restaurant reservation service. The company will continue to be based in Berlin, operating as an independent business led by its current management team.

Recruit Holdings is an information services and human resources company based in Japan. It established a corporate venture arm, RGIP, in May 2014.

Company
Founded in 2012, Berlin-headquartered Quandoo has developed a real-time reservation platform for restaurants in Europe. It has a network of 6,000 partner restaurants across 145 cities in 13 countries, including the UK, Turkey, Italy and Austria.

Restaurant managers are able to use the reservation management system to engage with customers. The company, with 280 staff, has so far catered to six million diners.

People
Philipp Magin is co-founder and CEO of Quandoo. Kazumasa Watanabe is CEO at Recruit Holdings.

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