SCB sells food delivery platform Robinhood for over $61.3m

The buyers, led by Yip In Tsoi Group, will make an initial payment of $12.27m.

SCB X has sold all its shares in Purple Ventures Co., the provider of the food delivery platform Robinhood, for $61.37m (THB2b).

A group of investors, led by Yip in Tsoi Group, purchased the company, SCB X said in a press statement posted on the Siam Commercial Bank website.

The buyers will make an initial payment of $12.27m (THB400m) and additional performance-based payment of up to almost $49.1m (THB1.6b).

Yip In Tsoi Co.’s CEO Morakot Yip In Tsoi said that they see potential in Robinhood’s food delivery service, citing its solid customer base, the quality of its service, and ‘polite and fast’ delivery riders.

“Additionally, the variety of merchants available on the platform, including well-known and unique establishments, makes it an excellent opportunity for the Yip In Tsoi investor group to further develop the business, enhance Robinhood's competitiveness, and foster inclusive growth within the ecosystem,” Yip said in a statement.

(US$1 = THB32.59)

Follow the links for more news on

SCBX

Siam Commercial Bank

Also Read

Mizuho purchases non-voting minority stake in Golub Capital

Hong Kong deposits see modest growth in August, up 1.1% YoY

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit