Uber Southeast Asia rival Grab acquires Indonesian startup Kudo
The deal will help grab develop its online payment platform
TechCrunch reports that Southeast Asian Uber rival Grab has reached an agreement to acquire online payment startup Kudo.
The deal is a mix of cash and equity, potentially worth between US$80 and US$100 million, though the amount has not been disclosed.
According to a statement from Grab, the Kudo payment platform will be integrated with Grab’s existing payment ecosystem.