Grab (GrabTaxi)

Grab (also known as GrabTaxi) is a the Malaysian company that, as of October 2018, provides taxis logistics services and through its own application Singapore in both neighboring countries -,,,,, and in Malaysia Indonesia. Philippines Vietnam Thailand To Myanmar Cambodia

History

2025: GoTo Purchase

On February 4, 2025, the Singapore technology company Grab announced the purchase of the GoTo taxi ordering service. The value of the transaction is estimated at $7 billion. Read more here

2021: Entering the Nasdaq, valued at $40 billion

On December 2, 2021, shares of Grab, the Southeast's largest Asia ride-hailing company, soared and fell more than 20% during its stock debut after Nasdaq a record SPAC $40 billion merger.

Shares of the leading "super enterprise" of Southeast Asia opened on December 3 at $13.06, which is 19% higher than the value of shares on December 2, and then fell 20.5% to close at $8.75. During the extended session, the stock rose 3.4% to $9.05.

Singapore taxi ordering service launched on Nasdaq at a valuation of $40 billion

Grab completed a merger with specialty company Altimeter Growth, which valued Grab at nearly $40 billion, making it the largest SPAC deal ever.

This is a time for Southeast Asia and we hope that our entry into the global public market will help bring more attention to the huge opportunities here in the region, "Grab CEO Anthony Tan said in a news release.

The Nasdaq backdoor listing marks a high point for the nine-year-old Singapore-based company. Grab launched the largest US listing of a Southeast Asian company with an event in Singapore hosted by Nasdaq and Grab executives.

About 250 people attended the event, including investors, drivers, sellers and employees, many of whom wore the company's signature green. The hotel room erupted in applause as an emotional Tan thanked them for putting the Southeast Asian tech economy on the global map for Grab.

In the long term, we are very excited about Grab Financial Group, "said Chris Conforti, partner at Altimeter Capital, referring to Grab's financial services division. 'I think the bell curve for that is much wider in terms of what the outcome could be, it could be extremely large.[1]

2018: Investment from Microsoft and Partnership

On October 9, 2018, it became known that Grab will receive from Microsoft investments, the volume of which is estimated at 200 million. dollars In addition, Grab will use Microsoft Azure and other Microsoft technologies. Earlier this year, Grab Uber bought the business in eight countries, pushing it out of the South East entirely. Asia The investment was not disclosed, however, according to sources, it Financial Times is about $200 million. However, both companies deny this. information

In addition, the parties entered into a strategic partnership agreement for five years, under which Grab will use the Microsoft Azure service as the preferred cloud platform in its work, as well as use Microsoft technologies to improve and expand its mobile application. In addition, users will be able to order a Grab taxi through the Microsoft Outlook mail service. Grab will also introduce Microsoft Kaizala, a group corporate messenger, as a pilot project.

In addition, Grab and Microsoft intend to jointly develop face recognition technology that will help control which driver the passenger sat down to.

Grab will also use Microsoft technology to create a real-time computer translator. Microsoft's solutions in data analysis and user behavior, fraud detection, machine learning and computer vision should help Grab personalize customer offerings and improve card quality.

As Grab President Ming Maa explained to CNBC, the main thing about the agreement with Microsoft is not the actual amount of investment, but the fact that the American company can help the six-year-old startup "scale beyond where we are." Microsoft's money will be spent on improving passenger safety and the user experience, he said.

In addition, in November 2018, Grab expects to receive other large investments - Japanese Softbank it intends to invest $500 million in it. The Financial Times writes that Microsoft and Softbank will be joined by two more investors - one global and one Asian, both previously not invested in Grab - thanks to which the total investment in the service for the year will exceed $3 million. Maa confirmed this figure to CNBC.

In this case, the total volume of investments attracted by Grab will reach $6.7 billion, and the company's capitalization will approach $12 billion. In June 2018, Grab received $2 billion from Toyota and other investors.

Grab is developing areas such as health care, food delivery and mobile payments, that is, trying to turn into an "app for everything."^[2]

Notes