Grab acquires Singapore-based restaurant reservation platform Chope
A man walks past a Grab office in Singapore, Mar 26, 2018. (File photo: Reuters/Edgar Su)
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SINGAPORE: Ride-hailing firm Grab has acquired Singapore-based restaurant reservation platform Chope for an undisclosed sum, the two companies confirmed on Monday (Jul 22).
In addition to transport, Grab also provides food delivery services on its app. In a statement to CNA, a Grab spokesperson noted that most of the merchants on its platform are small- and medium-sized businesses, which do not have the same resources as the big food-and-beverage brands.
"Our focus is to help level the playing field for them through tools that empower them to grow and manage their businesses more efficiently," said the spokesman. "We believe the addition of Chope’s products and services provides more synergies for our merchant partners, especially in helping them capture online-to-offline opportunities."
The deal was first reported by the Business Times on Monday, which quoted an internal Grab email informing employees of the acquisition. The email also said Chope's staff would join Grab's offices in Singapore, Indonesia and Thailand in a "couple of weeks".
Questions by CNA about the timeline of the deal and staffing - if all of Chope's employees would be making the move - went unanswered in the two statements provided on Monday.
Founded in 2011 by entrepreneur Arif Ziaudeen, Chope currently operates in seven cities: Singapore, Hong Kong, Bangkok, Phuket, Shanghai, Bali, and Jakarta.
The app offers deals on restaurants and allows diners to make bookings. According to its LinkedIn page, the company has seated over 110 million diners and helped "maximise business" for more than 8,000 restaurants around Asia.
In a statement shared with CNA, Mr Ziaudeen noted the "challenging and competitive market" and had therefore sought "a partner to help in pursuing new opportunities for sustainable growth".
"We evaluated potential buyers and found the best fit with Grab - a company with a mission aligned to ours in connecting restaurants to diners," he said.
In 2022, Grab bought the food and beverage portal HungryGoWhere, which had ceased operations in July 2021. Grab relaunched the site, with the stated aim of becoming the "go-to source" for diners seeking F&B news in Singapore and a platform for businesses to increase their visibility.
