Go-Jek

Grab set for major investment in Vietnam

SINGAPORE (Aug 26): Singapore-based ride-hailing firm Grab is set to invest “several hundred million dollars” in Vietnam where the company sees its next major growth market, just weeks after it unveiled a US$2 billion ($2.8 billion) plan in Indonesia.

The proposed investment is the latest example of a top-notch regional brand deepening its commitment to Vietnam, one of Asia’s fastest growing economies. It also shows the eagerness of Grab, which has raised billions of dollars from investors, to put its cash to work.

Singapore to step up oversight on Grab, Gojek to enhance safety

SINGAPORE (Aug 7): Singapore will tighten regulations on ride-hailing operators such as Grab and Gojek, bringing safety-related rules for the services in line with taxi operators to better protect commuters and drivers.

Senior Minister for Transport Janil Puthucheary outlined a new bill governing the ride-hailing industry in the country’s parliament Tuesday. He said ride-hailing operators with at least 800 vehicles will be licensed. Taxi companies will have another license.

Cycle & Carriage launches new car leasing business; secures Go-Jek as first corporate client

SINGAPORE (July 25): Cycle & Carriage Singapore (C&C), which is 100% owned by parent company, Jardine Cycle & Carriage, has entered into the car leasing segment with the launch of its new car-leasing arm – Cycle & Carriage Leasing.

Cycle & Carriage Leasing will provide a range of leasing options from daily rentals to long-term car rentals of up to three years, which will also be available for private hire drivers to lease. It will also lease and manage fleets of cars for corporate clients.

Briefs

SINGAPORE (July 22): “Carrying around their cup was a status symbol. They were the first store in New York to offer extra virgin olive oil. Now Amazon has extra virgin olive oil. Everyone has extra virgin olive oil.”Restaurant critic Joshua David Stein, on reports that premium grocer Dean and DeLuca’s is struggling to survive after 42 years in the business.

Trump threatens to impose more tariffs on China

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Go-Jek snags investment from Thailand's largest lender

(July 11): Ride-hailing giant Go-Jek has secured an investment from Siam Commercial Bank, the Thai lender that counts King Maha Vajiralongkorn as its biggest shareholder, according to people familiar with the matter.

It’s unclear how much Thailand’s biggest bank is investing in Go-Jek, the people said, who asked not to be identified because the matter is private. Their partnership will help Indonesia’s most valuable technology startup bolster its financial services, while Siam Commercial is counting on online growth to help increase revenue, they added.

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.

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