By Ka Kay Lum
In a heated race to become Southeast Asia’s super-app, Grab Indonesia managing director Ridzki Kramadibrata said the startup is “on good track” towards achieving that goal.
The grocery market in Southeast Asia is expected to hit $309 billion by 2021.
Berlin-based Delivery Hero had a presence in India through Foodpanda, which it sold to Ola in December 2017.
Central Group will acquire a significant non-controlling stake in the Thai entity.
Consumers can now apply for a UOB card directly from the Grab app or by scanning QR codes found in Grab cars in Singapore.
In the long term, it will create opportunities for consolidation as well as the growth of new niches, investors and founders shared during DEALSTREETASIA’s Indonesia PE-VC Summit 2019 recently.
As part of the deal, Nasr Khan, founder and CEO of Nightstay, will lead the hotel booking category at Paytm.
India’s new foreign investment restrictions will, from Feb. 1, bar e-commerce companies from selling products from firms in which they have an equity interest.
Its rival, Go-Jek, has been making similar advances in online media. Last year, Go-Jek acquired advertising startup Promogo and was also reported to have invested in Kumparan.
Ryde has also appointed Nomad X’s director and chief investment officer, Tan Suan Jin, as its chairman.