Kudo's Acquisition Story and Collaboration with Grab

this April Grab announce acquisition of Kudo, a local startup that focuses on selling products through agents. Reportedly this acquisition reportedly included launching a plan Grab make Kudos legal vehicle GrabPay in Indonesia. How is Kudo's story pre and post acquisition? In the Tech in Asia Jakarta 2017 discussion session, CEO Albert Lucius told the story of his journey.

Unplanned acquisition process

The acquisition process, which lasted for about three months, was initially never planned by Albert and his Co-Founder, COO Agung Nugroho. Albert revealed the initial meeting with Grab initiated by investor Kudo East Ventures in Singapore.

"Initially, our meeting in Singapore was only limited to introductions and getting technical information. After we introduced ourselves and explained what Kudo is and its mission, not long after Grab bring the team Finance and investment team to have a meeting with us," said Albert.

There is a common mission and vision between Grab and Kudo made the acquisition process run quickly. Even though this acquisition process was an "accomplishment" in itself for Kudo, Albert and the team had doubts about agreeing to this agreement.

"The concern is whether the two companies will be able to collaborate well, contributing to one another. We thought about it for a while, but in the end the process exit We agree on this," said Albert.

Albert added in Indonesia perception exit, the acquisition or sale of a company, is still interpreted negatively by family, co-workers, and employees. Unlike the United States, which welcomes the process exit a startup.

"After we agreed on the agreement during December 2016 to January 2017, we held intensive meetings with stakeholder as well as Kudo employees related to this acquisition process," said Albert.

Kudo Plan and Grab next

Currently, Albert is still the CEO of Kudo and continues to run Kudo's business independently. Even though they are part of a big family Grab, Kudo continues to focus on carrying out the business plans that have been prepared previously.

Implementation of collaboration with Grab is the use of Kudo agents, which are currently spread throughout Indonesia, by Grab and utilization of existence Grab which is already present in 7 countries.

"This is in line with Kudo's plan to go global. In addition, we also utilize experts from Grab to provide training to engineer Indonesia," said Albert.

Currently Kudo is connecting technology and Back-end with Grab. When ready, Kudo, which is currently partnering with FMCG companies, telecommunications operators to e-commerce services in Indonesia, will present options for selling these various products in the application. Grab.

"Currently we are still developing it. It is hoped that later it will be through driver partners Grab This facility can be enjoyed by many people," said Albert.