Kudo Reportedly Acquired Grab Worth 1,3 Trillion Rupiah

In an effort to deepen market reach in Indonesia, Grab is said to have done acquisition of Kudo, a local startup focused on service development e-commerce assistant. Its value is around $100 million or equivalent to Rp. 1.3 trillion.

This news is quite shocking news. This is because the startup founded by Albert Lucius and Agung Nugroho in early 2015 (Kudo) has just announced a funding round led by EMTEK, with a value of around IDR 130 billion towards the end of last year. Following previous funding conducted in 2015 by a number of investors, including East Ventures and GREE Ventures. With this funding, Kudo's vision is to expand the procurement of more massive agents throughout Indonesia.

Not long ago, to accelerate business growth, Kudo also "hijacked" Makmuri Sports to sit in the company's C-Level ranks. According to Albert's presentation to DailySocial, the recruitment was done because Kudo needed a new skillset to accelerate the business.

Previous Grab declared its commitment to be part of the acceleration of the digital economy in Indonesia. Attended directly by the Group CEO and Co-Founder Grab Anthony Tan, Grab announced its investment of $700 million for the development of an innovation center over the next 4 years. The plan called "Grab 4 Indonesia” is supported by the Indonesia Investment Coordinating Board (BKPM).

Service update GrabPay itself as an e-money service has begun to be intensified in Indonesia, most recently launching GrabPay Credit, done to strengthen the position GrabPay as e-money that is easy to top up, through ATMs or convenience stores. based innovation fintech uniforms are carried out by application-based transportation business players. In Indonesia, the most dominant opponent is Go-Jek, which is currently also aggressively maximizing the penetration of Go-Pay utilization.

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Dailysocial has contacted Kudo to seek confirmation.