Singapore’s Chope acquires MakanLuar, enters Indonesian market

Photo by MakanLuar

Singapore online restaurant booking app, Chope Group has announced the acquisition of the Indonesian restaurant booking app MakanLuar.

The financial details of the acquisition were undisclosed,

MakanLuar was launched in November 2013 and in 2015 fulfilled almost 100,000 reservations.

Kunal Narang, co-founder of MakanLuar, in an official statement, said : through this cooperation the company will try to leverage Chope’s resources for a larger market share in Asian market.

Kunal and co-founder Hiro Mohinani will remain in charge of MakanLuar after the deal.

“MakanLuar already had impressive traction and we saw obvious opportunities to further increase their aggression with our technology, marketing, and support,” Chope CEO Arrif Ziaudeen said in an official statement.

Chope was founded in June 2011 and has raised a Series C funding S$8 million funding round led by NSI Ventures, the VC arm of the private equity firm Northstar GroupF&H Fund ManagementDSG Consumers Partners, Frontier VenturesSingapore Press Holdings and unnamed Chinese investors.

Prior to this investment, Chope raised $3.38 million in its previous rounds. This Series C brings total funding to $11.38 million.

Also Read : Singapore based Chope secures $8m in Series C round led by F&H Fund Management, NSI Ventures

Existing investor  also increased its share capital, being among the participating investors. It had invested $2.5 million in Chope’s Series B round in March 2013.

Chope (Singaporean slang for ‘reserve’) works by letting diners log onto the service via its website or smartphone app, select a restaurant, reserve a table and receive instant confirmation via email.

Chope is present in Singapore, Bangkok, Beijing, Shanghai and Hong Kong. It claims to have more than doubled revenue and seated over 20 million diners to date, since being launched by CEO and founder Arrif Ziaudeen in June 2011.

Chope’s recent acquisition of Singapore-based queueing service Ticktok in November 2014 further expanded its service offerings. This acquisition enabled it to access both the reservation and walk-in crowd, via automated phone calls and an SMS reminder when their table number is about to be called.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.