In a strategic move to bolster its restaurant-related business, Singapore-based Grab has acquired the Southeast Asian operations of Chope, a prominent local restaurant reservation platform. This acquisition includes Chope’s businesses in Singapore, Indonesia, and Thailand, while its operations in Hong Kong and China will not be retained.
Chope, which lists over 13,000 eateries across Singapore, Indonesia, Thailand, Hong Kong, and China, has been a significant player in the restaurant reservation market in these regions. Grab, a ride-hailing and food delivery giant, announced the acquisition in an internal email to employees on Monday, although the financial details of the deal remain undisclosed. The company also declined to comment on its stake in Chope or further transaction specifics.
Following the acquisition, Grab plans to integrate Chope’s booking system with its own platform. This integration will allow consumers to book reservations at restaurants registered on Grab’s food delivery services directly through the Grab super app. This move aims to support small and medium-sized businesses (SMBs) by providing them with resources and tools typically available only to larger food and beverage outlets.
“The vast majority of the merchants on our platform are small, medium-sized businesses who don’t have the same resources or know-how that big food and beverage outlets have,” Grab stated. “Our focus is to help level the playing field for them through tools that empower them to grow and manage their businesses more efficiently.”
This acquisition aligns with Grab’s ongoing efforts to expand its dining-related services. In 2022, the company relaunched the local food portal HungryGoWhere, which provides restaurant reviews and recommendations. This portal, previously owned by Singapore Telecommunications, had been closed in 2021 before Grab’s revival of the platform.
Chope’s founder, Arrif Ziaudeen, commented on the acquisition, highlighting the challenging and competitive market conditions that prompted the search for a new investor. “Considering today’s challenging and competitive market, we have chosen to seek a partner to help us pursue new opportunities for sustainable growth,” Ziaudeen said. “We evaluated potential buyers and found the best fit with Grab — a company with a mission aligned to ours in connecting restaurants to diners.”
Founded in 2011, Chope has seen significant investment from China’s Ant Group, an affiliate of Alibaba Group Holding, which invested $15 million in 2021, becoming its major shareholder. However, Ant Group declined to comment on its shareholding following Grab’s acquisition.
This acquisition represents a significant step for Grab as it continues to diversify and enhance its services in the highly competitive Southeast Asian market. By integrating Chope’s reservation system, Grab aims to offer a more comprehensive service to its users and support local SMBs in the food and beverage industry.
Thomas Lin
Financial Desk
