Deals
Grab Buys Indonesia Shopping Platform to Expand Battle With Uber
How Uber's Controversial CEO Built an Empire
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Grab, Uber Technologies Inc.’s biggest rival in Southeast Asia, will acquire Indonesian e-commerce startup Kudo for an undisclosed amount, striking its first deal since pledging to invest $700 million in its largest market.
The purchase is aimed at beefing up payment services while expanding its reach across Southeast Asia’s largest country. The Singapore-based ride-hailing firm also announced Monday it’s hiring former Euronet Worldwide Inc. executive Jason Thompson to head GrabPay.