Siam Commercial Bank (SCB) has opted to keep its Robinhood delivery and booking app operational, reversing its earlier decision to shut it down after business hours on Wednesday.
On Tuesday, SCB X announced to the Stock Exchange of Thailand that it would postpone the planned closure of Robinhood while evaluating acquisition offers for the commission-free app from various companies.
SCB X noted that interest from potential buyers of Robinhood has exceeded their expectations.
The board made this decision on Monday.
Robinhood is managed by Purple Ventures, a subsidiary of SCB X, and provides on-demand food delivery, hotel reservations, and additional services.
Last year, Purple Ventures reported revenue of 724 million baht, a 34% increase from the previous year, but its losses grew to 2.1 billion baht, up from 1.9 billion baht the year prior.
