Emerging Markets Property Group has acquired Kaidee, one of the largest marketplaces in Thailand. The deal was done back in February before the onset of the global coronavirus pandemic but has been announced publicly today for the first time.
EMPG, which already owns and operates heavyweight portals such as Zameen in Pakistan, Bayut in the middle East, Mubawab in North Africa and bproperty in Bangladesh, adds multi-vertical marketplace Kaidee to its impressive portfolio.
Branching out into Thailand in 2020 follows the company’s acquisition of rival player Rocket Internet’s interests in the Gulf Region in the summer of 2019.
According to EMPG CEO Imran Ali Khan:
“Thailand is one of the most exciting, dynamic markets in Southeast Asia, and its real estate and auto verticals are some of the largest in the region”
“Kaidee has a rich history in Thailand and has built a very strong brand on the back of extraordinary focus on technology and connecting consumers, and we look forward to investing significant resources to take the business to the next level.”
As for Kaidee CEO Tiwa York, he was quoted as saying:
“EMPG is at the forefront of the global online marketplace industry and has grown to prominence given its focus on providing localized solutions to each market in which it operates. This acquisition will allow Kaidee to accelerate its plans to provide market-leading solutions to Thailand across all of our verticals,”
York was one of the interviewees at The Online Marketplaces Group’s Bangkok Conference back in February. In it, he speaks about the difficulties of the real estate market in Thailand compared to other markets and explains how until then Kaidee had not truly broken into the market. Perhaps in looking towards the acquisition by property specialist EMPG, Kaidee is signalling its intent to focus more on property for 2020.
Catch the interview on our YouTube channel here: https://www.youtube.com/watch?v=EHHt30BCM3o&feature=youtu.be