Japanese startup 30min (pronounced as ‘san zero minutes’), the company behind a gourmet mobile app, announced today that it will hand the business to Tokyo-based Iid, one of Japan’s largest online media conglomerate outlets. 30min said that the gourmet site has more than 12 million monthly page views from over 3.7 million monthly unique users, but the transfer cost for the asset purchase has not been disclosed.
Since its launch in 2008, the company has been leading in the location-based restaurant finder app space. While the business became profitable last year, they decided they needed more time to exit via IPO so they will hand the gourmet app business to Iid.
30min co-founder and CEO Motoaki Tanigo will step down from the management board but will manage other 30min businesses, including a bargain-priced apartment finder app. He is preparing to launch a new startup, and will serve as an advisor to other Japanese startups like TravelBook and Handshare.
By adding the 30min gourmet-focused media to its line-up, Iid now has more than 40 media outlets across various vertical fields such as autos, e-commerce, education, fashion, finance, hobby, IT, medical business, and sports.