fbpx
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • REGISTER
  • login
No Result
View All Result
No Result
View All Result
Home Featured

Grab acquires majority stake in Malaysia’s Jaya Grocer

Team AsiaTechDaily by Team AsiaTechDaily
01 February 2022
in Featured, Food Delivery
0
Grab
22
SHARES
Share on FacebookShare on Twitter
Bookmark (0)

Please login to bookmark

No account yet? Register

Grab Holdings, Southeast Asia’s largest superapp, has finalized the acquisition of a majority stake in Malaysia’s top mass-premium supermarket chain Jaya Grocer Holdings.

The two companies intend to collaborate to provide more Malaysians with the convenience of on-demand grocery delivery.

Grab and Jaya Grocer have also recently announced the expansion of GrabPay and GrabRewards to all Jaya Grocer physical retail outlets, allowing customers to use Grab’s popular cashless wallet in more places.

The acquisition comes at a time when on-demand grocery delivery services are experiencing rapid expansion. Long-term transportation constraints, as well as customer concerns about safety and hygiene, have led to an increase in the usage of online grocery shopping.

Despite the fact that 64% of internet users in Southeast Asia bought groceries online at least once during the outbreak, online grocery purchases only accounted for roughly 2% of total grocery spending.

At a penetration rate of 10%, similar to mature economies, online grocery in Southeast Asia may reach $50 billion in gross merchandise value, equaling the whole e-commerce industry today.

Anthony Tan, Group CEO and Co-Founder, Grab, said the combination of their extensive on-demand delivery fleet and capabilities and Jaya Grocer’s strong retail presence and supplier network will help both companies in the growth of their grocery delivery business.

Teng Yew Huat, Founder, Jaya Grocer, in a separate statement said Grab’s strong track record and ability to execute in a hyperlocal way gives them confidence that they have found the right partner.

“This acquisition provides us with an amazing opportunity to not only grow as a company but also grow the market for online grocery services in Malaysia,” said Teng.

As a result of the acquisition, Grab will be able to add more Jaya Grocer retail outlets to its marketplace, as well as leverage Jaya Grocer’s vast supplier network to expand its GrabSupermarket product line at a lower cost.

As a result, grocery delivery’s unit economics and overall affordability have improved.

Previous Post

SG’s EdTech firm Cialfo raises US$40 million in Series B funding round

Next Post

BreederDAO raises $10m Series A led by a16z, Delphi Digital

Related Posts

edit post
Holmusk
Featured

Healthtech startup Holmusk raises $45m to continue rapid expansion

January 23, 2023
edit post
Jumppoint
Featured

Hong Kong-based logistics platform for e-commerce merchants Jumppoint raises $6.5m in series A

January 16, 2023
edit post
Flik
Featured

Indonesian startup Flik scores $1.1m in East Ventures-led funding round

January 10, 2023
edit post
Alterpacks
Featured

Alterpacks’ commercialization drive gets boost with $1m funding

January 5, 2023
edit post
HD
Featured

Thai healthcare, surgery marketplace HD raises $6m in funding

January 4, 2023
edit post
SeaVantage
Featured

S Korean startup SeaVantage raises $1.3m to expand ocean visibility platform

January 4, 2023
Next Post
edit post
BreederDAO

BreederDAO raises $10m Series A led by a16z, Delphi Digital

Discussion about this post

No Result
View All Result

Follow Us

FREE NEWSLETTER




Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback