Grab, Singapore’s ride-hailing and food delivery giant, has acquired restaurant reservation platform Chope for an undisclosed sum. The acquisition, confirmed by CNA with both companies on July 22, excludes Chope’s operations in Hong Kong and China but covers its businesses in Singapore, Indonesia, and Thailand. This deal was initially reported by The Business Times, citing an internal email to Grab’s employees.
Founded in 2011, Chope is said to have seated over 110 million diners and supported more than 8,000 restaurants across cities like Singapore, Hong Kong, Shanghai, Bangkok, Bali, Phuket, and Jakarta. Despite its extensive network of over 13,000 eateries, Chope has faced financial challenges, with losses growing by 64% in 2022, highlighting the thin margins of its business.
Post-acquisition, the Chope brand, app, and website will continue operating independently. Grab plans to integrate Chope’s booking system into its super app to enhance value for its merchant partners, particularly small and medium enterprises.
Chope’s staff will join Grab’s offices in Singapore, Indonesia, and Thailand within the next few weeks, with no redundancies expected.
The integration of Chope follows Grab’s 2022 acquisition of HungryGoWhere, aimed at further expanding its food and beverage services and becoming the primary source for F&B news as well as a platform for increasing business visibility in Singapore.
Chope’s decision to seek acquisition by Grab was driven by the need for sustainable growth in a competitive market. Arif Ziaudeen, Chope’s founder, said that the alignment of missions between the two companies in connecting restaurants to diners was a crucial factor in the decision.
In 2021, Ant Group invested USD 15 million in Chope, becoming its major shareholder, though its shareholding status post-acquisition remains unclear.