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Grab Holdings Ltd. Expands Services with Acquisition of Chope
In a strategic move to broaden its service offerings, ride-hailing and delivery giant Grab Holdings Ltd. has acquired Singapore-based restaurant reservation app Chope for an undisclosed amount. This acquisition allows Grab to integrate dinner bookings into its platform, enhancing its competitive edge against companies like GoTo Group and Line Man Wongnai in key markets such as Singapore, Indonesia, and Thailand.
The acquisition represents an ongoing effort by Grab to diversify and improve its margins within the fiercely competitive Southeast Asian market, which boasts a population exceeding 650 million. Chope's restaurant booking app has gained considerable traction across the region but has also faced intense competition. Chope's founder emphasized the importance of finding a partner capable of providing growth opportunities, stating that Grab was the ideal fit following a thorough evaluation of potential buyers.
Under the new arrangement, Grab will assume control of Chope’s operations in Singapore, Indonesia, and Thailand. The integration will see Chope’s staff joining Grab’s offices in a few weeks, maintaining their roles as part of Grab’s Omnicommerce business. According to an internal communication from Grab's head of deliveries, no redundancies will occur as a result of the acquisition.
Analysts suggest that the inclusion of Chope’s near-profitable operations will not negatively impact Grab’s positive-adjusted EBITDA. Moreover, Chope’s existing network of 10,000 merchants will enhance GrabFood’s ecosystem, which currently includes over 200,000 merchants, thereby boosting sales opportunities in outdoor dining advertising.
This latest acquisition reaffirms Grab's position as a leader in the ride-hailing and food delivery sectors across the region. Additionally, there have been reports of renewed discussions between Grab and Indonesia's GoTo about a potential merger of their core businesses.
