Southeast Asia's largest ride-hailing and food delivery company, Grab, has acquired Singapore's dining reservation platform, Chope. The exact price has not been disclosed, but both companies confirmed the news on Tuesday.
"We believe that Chope's products and services will bring more synergies for our merchant partners, especially in helping them capture online-to-offline opportunities," a Grab spokesperson said in a statement.
The Business Times first reported the acquisition on Monday, citing an internal email seen by the publication.
Grab stated in its announcement that its focus is on helping small and medium-sized enterprises, which make up the majority of merchants on its platform and often lack the resources of bigger brands.
Chope founder Arrif Ziaudeen mentioned in the statement that Chope sought to find a partner to help it seek new sustainable growth opportunities in a challenging and competitive market.
"We evaluated potential buyers and found that Grab best suited our needs—its mission aligns with our goal of connecting restaurants and diners," he added.
According to its website, Chope was founded in 2011 and currently operates in seven cities: Singapore, Hong Kong, Bangkok, Phuket, Shanghai, Bali, and Jakarta, with over 13,000 restaurants on its platform.
