Asia Unhedged | Uber Southeast Asia rival Grab acquires Indonesian startup Kudo
A Grab motor driver is seen in a street in Jakarta, Indonesia. Photo: Reuters, Beawiharta
A Grab motor driver is seen in a street in Jakarta, Indonesia. Photo: Reuters, Beawiharta
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Uber Southeast Asia rival Grab acquires Indonesian startup Kudo

The deal will help grab develop its online payment platform

April 4, 2017 4:25 AM (UTC+8)

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.

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