EMPG, the parent company of Pakistan’s leading property portal Zameen.com, and the leading online property portal group in the MENA and South Asia regions, has announced that it has acquired Thailand’s largest online marketplace, Kaidee.
The transaction closed in February 2020. The value of the transaction was not disclosed.
EMPG owns and operates Zameen in Pakistan, Bayut within the GCC, Bproperty in Bangladesh and Mubawab in Morocco and Tunisia.
Headquartered in Bangkok, Kaidee was based in 2011 and shortly rose to turn out to be the main on-line market in Thailand, a Southeast Asian nation of practically 70 million individuals. The portal boasts a robust model and sizeable site visitors figures, and options greater than 30 completely different classes of products and companies.
EMPG CEO Imran Ali Khan mentioned the group’s strategy to on-line marketplaces may be very consumer-driven and localized.
“Thailand is among the most fun, dynamic markets in Southeast Asia, and its actual property and auto verticals are a number of the largest within the area,” mentioned Imran. “Kaidee has a wealthy historical past in Thailand and has constructed a really sturdy model on the again of extraordinary deal with know-how and connecting shoppers, and we look ahead to investing vital sources to take the enterprise to the following degree,” he added.
EMPG Co-founder and Zameen.com CEO Zeeshan Ali Khan welcomed Kaidee into the group.
“EMPG is a rapidly growing family, and we are happy to see Thailand’s largest market join its ranks,” said Zeeshan. “This acquisition comes with a number of opportunities to learn and grow for both parties, and capitalizing on them will be very important. We look forward to entering the broader dynamics of the market and, in turn, we hope to impart significant experience on the vertical real estate side, ”he added.
Kaidee CEO Tiwa York welcomed EMPG. “EMPG is at the forefront of the global online marketplace industry and has grown to fame for its focus on providing localized solutions to every marketplace in which it operates. This acquisition will allow Kaidee to accelerate its plans to provide market-leading solutions to Thailand in all of our verticals, ”said York.
Following the conclusion of the deal, Imran Ali Khan and senior group executive Mark Nosworthy have joined the Kaidee Board of Directors.
