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Singapore ’s drive - hail and nutrient delivery company Grab is expanding its services beyond drive and intellectual nourishment delivery by doubling down on the militant eating house booking industry in Southeast Asia .
Grab substantiate to TechCrunch that it learn a Singapore - based dining arriere pensee platform , Chope , for an unrevealed amount .
take hold of already offers eating house reservations in Singapore by way of its acquisition of HungryGoWhere in 2022 . With 13,000 eating place on Chope across Singapore and beyond — Chope has operations in Hong Kong , China ( Shanghai and Beijing ) , Indonesia ( Bali and Jakarta ) , and Thailand ( Bangkok and Phuket ) — Grab will be expand that byplay significantly in the hope of better differentiating itself from challenger and improving gross profit margin .
A Chope voice said that the dining booking platform had been look for Modern investing when the skill fling came up .
“ We evaluated likely buyers and found the best fit with Grab — a party with a mission coordinate to ours in connecting restaurants to dining compartment , ” the spokesperson at Chope say TechCrunch .
establish in 2011 , Chope had raised just over $ 64 million from investor that include Alipay parent Ant Group and Singha Ventures , the bodied speculation arm of the brewing giant , according to PitchBook datum , which estimated that its valuation was around $ 101 million in 2022 .
Grab e-mail its staff on Monday to inform them that it had closed an learning deal with Chope . Grab enounce it would acquire Southeast Asia operation except for China and Hong Kong services . The Business Times firstreported the news , citing an interior mail .
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The Singaporean “ super app ” will be able to put up restaurant reservation service in Southeast Asia through the skill , separate it from its peers like GoTo and Line Man Wongnai . A spokesperson at Grab tell TechCrunch that it expects to leave more synergies for its [ food and drink ] merchandiser - partners to help them charm online - to - offline opportunities via Chope acquisition .
“ The vast majority of the merchants on our program are small-scale , medium - sized businesses who do n’t have the same resources or know - how that large F&B brands have . Our focus is to assist charge the playing field for them through pecker that empower them to grow and make out their businesses more efficiently , ” the Grab interpreter said in an email statement .
The restaurant mental reservation space is very crowded in Southeast Asia . Users can also use apps like Open Table , Eat App , Yelp , Oddle , Resy , Tock , Odette , QuandooandEatigoto make restaurant reservations in Asia . And in 2022 , Grab shareholder Uber launched a new feature , Uber Explore , countenance users in 15 cities across the U.S. and Mexico to book dinner reservations and alive consequence through the app .
The fact that there are so many option out there now solicit the interrogative of whether this later deal is a signal of more M&A and integration to descend , or whether Grab has just grabbed a specific opportunity .
