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EMPG, the parent company of Pakistan's top 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.
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The transaction was closed in February 2020. The transaction value was
not disclosed.
EMPG owns and operates Zameen in Pakistan,Bayut in the GCC,Bproperty in
Bangladesh and Mubawab in Morocco and Tunisia. Headquartered in Bangkok,
Kaidee was founded in 2011 and quickly rose to become the leading online
marketplace in Thailand, a Southeast Asian nation of nearly 70 million
people. The portal boasts a strong brand and sizeable traffic figures,
and features more than 30 different categories of goods and services.
EMPG CEO Imran Ali Khan said the group’s approach to online marketplaces
is very consumer-driven and localized.
“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,” said Imran. “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,” he added.
EMPG Co-founder and Zameen.com CEO Zeeshan Ali Khan welcomed Kaidee into
the group.
“EMPG is a quickly growing family, and we are happy to see Thailand’s
top marketplace join its ranks,” said Zeeshan. “This acquisition comes
with a number of opportunities to learn and grow for both parties, and
capitalizing on them is going to be very important. We look forward to
stepping into the broader marketplace dynamic, and in turn hope to
impart significant experience on the real estate vertical side,” he
added.
Kaidee’s CEO Tiwa York welcomed EMPG. “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,” said York.
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After the conclusion of the deal, Imran Ali Khan and the group’s senior
executive Mark Nosworthy have joined the Kaidee Board of Directors.
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