Dubai-based EMPG acquires Thai online retailer Kaidee

Dubai-based online classified group Emerging Markets Property Group (EMPG) has acquired Thai online marketplace Kaidee, marking its foray into the Southeast Asia market.

Financial terms of the deal were not disclosed.

Founded in 2011, Kaidee offers over 30 categories of both new and second-hand goods and services. The company claims to have 7 million users and is expected to touch 10 million by the end of this year, according to a Bangkok Post report.

EMPG said in a statement that the acquisition will help the Bangkok-based unit to expedite its plans for providing solutions across all verticals in Thailand.

“Thailand is one of the most exciting, dynamic markets in Southeast Asia, and its real estate and auto verticals are some of the largest in the region,” said Imran Ali Khan, CEO of EMPG, who now joins Kaidee’s board of directors.

“This acquisition comes with a number of opportunities to learn and grow for both parties, and capitalising on them will be very important,” added Zeeshan Ali Khan, co-founder of EMPG and CEO of Zameen.com, its Pakistan-based property portal.

Apart from Zameen, EMPG operates a spate of other classified portals in the Middle East and North Africa (MENA) and South Asia regions, including Bayut, Bproperty and Mubawab.

In 2019, EMPG raised a $100-million Series D funding round led by KCK Group, an investment fund that focuses on diverse sectors including life sciences, energy and industrial technologies. The round brought the total funding by the group to $160 million.

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.