Go-Jek

Grab explores spinning off financial services business: sources

SINGAPORE (May 8): Singapore-based ride-hailing company Grab has mandated a few banks to approach potential investors to take minority stakes in its financial services business as it looks to spin off the unit, according to two people familiar with the matter.

Grab has adopted an aggressive strategy to expand its range of services, from transport to food delivery and payments, as it races Indonesia's Go-Jek to become an app-for-everything in
Southeast Asia, home to about 650 million people.

Grab's bonfire of the vanities is just blowing smoke, says Bloomberg Opinion's Tim Culpan

(April 9): One sentence from Grab Holdings Inc. co-founder Anthony Tan sums up the outlook for the dumpster fire that is Southeast Asia’s increasingly toxic taxi wars.

“I met Masayoshi-san last week where he gave his unlimited support to power our growth.”

In a giddy press release Grab announced that it’s super-sizing its current funding round to US$6.5 billion ($8.8 billion). Series H has already raised US$4.5 billion, including US$1.46 billion from Masayoshi Son’s SoftBank Vision Fund, and it plans to collect another US$2 billion before the year is out.

Grab sets sights on US$6.5 bil capital mark

SINGAPORE (April 8): Grab Holdings is expecting to rake in further US$2 billion ($2.71 billion) in funding to bring its total capital raised this year to US$6.5 billion, following its Series H round which saw SoftBank and other key strategic investors invest over US$4.5 billion in the ride-hailing app.

Last month, Grab secured a US$1.46 billion investment from SoftBank Vision Fund. Both Grab and the Japanese conglomerate have been working together since 2014.

Grab, GoJek, Didi and why it's hard to find winners in the few really successful EMs

SINGAPORE (Feb 18): They say there is no such thing as bad publicity. For GoJek, at least, the recent altercation between one of its drivers and a female passenger, who turned the phrase “Is it because I’m Chinese?” into a popular meme, has arguably done more to promote its brand than any carefully crafted marketing plan could have.

Singapore proposes stricter rules for ride-hailing operators

(Jan 25): Singapore is proposing to step up regulation of ride-hailing companies such as Grab and Go-Jek, bringing rules for the services in line with taxi operators in a bid to better protect the safety of commuters and drivers.

How will Singapore's land transport players respond to Go-Jek's arrival?

SINGAPORE (Dec 5): RHB Research is maintaining “neutral” on ComfortDelGro (CDG) with an unchanged target price of $2.35, which indicates 11% upside plus 5% FY19F yield.

This comes as the research house is anticipating ride-hailing entrant Go-Jek to initiate a price competition against its counterpart Grab – and awaits clarity on the resultant effect on CDG’s taxi business, which forms about 30% of the group’s earnings before interest and taxes (EBIT).

Go-Jek said to roll out in Singapore this week to challenge Grab

(Nov 28): Indonesia’s Go-Jek plans to roll out a preliminary version of its ride-hailing app in Singapore on Thursday, bringing fresh competition to the hometown of arch-rival Grab, according to people familiar with the plan.

Go-Jek’s beta app will be available to a limited number of consumers before expanding it to a wider population as testing progresses, said the people, who asked not to be named because the information is not public.

Super Apps, Asia's new innovation, to change cities, economies

SINGAPORE (Nov 7): The ability to communicate, shop online, order rides, read books, play games, get food delivery and pay for anything within a single, unified smartphone app is Asia’s defining innovation, technology leaders said at Bloomberg’s New Economy Forum in Singapore.

Ride-hailing rivalry, goodies unlikely to return to 'good old days'

SINGAPORE (Oct 31): DBS Group Research says the competition and level of subsidies seen during the Grab vs Uber era are unlikely to return.

This is because the outcome of the first round of competition has not been particularly smooth for the players and the acquisition of Uber’s Singapore operations by Grab had resulted in fines by the competition watchdog.

On Monday, Grab’s next rival Go-Jek started pre-registration for drivers in Singapore, with about 1,000 potential drivers having signed up, according to media reports.

Go-Jek launches drivers pre-register portal

SINGAPORE (Oct 29): Go-Jek on Monday launched a portal through which drivers can pre-register to use its platform. By signing up, drivers will have the opportunity to be among Go-Jek’s first driver-partners in Singapore.

"The portal, which can be found at www.go-jek.com/sg/join is the only official online channel for Go-Jek driver pre-registration", says Go-Jek in its press release.

Be informed of the stories that matter

Subscribe

Be informed of the stories that matter