Southeast Asian ride-hailing and mobile payments platform Grab has acquired e-commerce platform Kudo in a deal that is the first step in Grab President Ming Maa's plan to invest $700m in Indonesia over the next four years. According to Grab, Kudo’s O2O platform allows Indonesia’s unbanked consumers to shop online by connecting them with merchants and service providers via Kudo’s network of more than 400,000 authorised agents in 500 towns and cities across the country. The deal, which was announced on Tuesday, will see Grab's Indonesian subsidiary acquire the online shopping site for an undisclosed amount.
Southeast Asian ride-hailing and mobile payments platform Grab has acquired e-commerce platform Kudo in a deal that is the first step in Grab President Ming Maa's plan to invest $700m in Indonesia over the next four years. The deal, which was announced on Tuesday, will see Grab's Indonesian subsidiary acquire the online shopping site for an undisclosed amount.