ride hailing

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.

Grab raises US$150 mil from Yamaha

SINGAPORE (Dec 17): Grab is attracting more global backers after the ride-hailing service defeated Uber Technologies Inc. in Southeast Asia. A motorcycle maker has become the latest investor.

Yamaha Motor Co. agreed to invest US$150 million ($205.7 million) in Grab and the two will collaborate on motorcycle-ride services in Southeast Asia with a focus on Indonesia, the Japanese manufacturer said in a statement Thursday.

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).

Ride-hailing giant Grab expects to double revenue in 2019

(Sept 6): Singapore’s Grab outlined ambitious fundraising plans and predicted that sales will double next year, adding to evidence that Southeast Asia’s most valuable startup is expanding well beyond its roots as a ride-haling app and intensifying a rivalry with Indonesia’s Go-Jek.

Revenue will double from the US$1 billion ($1.37 billion) it expects in 2018 as it integrates the acquisition of Uber Technologies Inc.’s regional business and delves deeper into new areas from bike-sharing to digital payments.

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Grab pulls in US$2 bil funding; eyes Indonesia expansion

SINGAPORE (Aug 2): Grab Holdings today ended months of speculation and confirmed that it has raised US$2 billion ($2.7 billion) in a round of fundraising aimed at pushing Grab to be the leading technology player in Southeast Asia.

Toyota Motor Corporation led the round of financing, with a US$1 billion investment into the ride-hailing provider that was announced in June.

Grab commuters can now shop and collect freebies with a new in-car service, Grab&Go

SINGAPORE (June 4): Ride-hailing firm Grab has launched its in-car sampling and retail passenger experience, Grab&Go, in partnership with New York-headquartered mobile marketplace operator Cargo Systems Inc.

Based on a model similar to Cargo’s in-car and digital platform, which is used by ride-sharing cars across the US, passengers of Grab&Go-equipped vehicles will be able to browse and retail products and make their purchases by entering a unique five-digit code on a digital menu via their smartphones.

Grab replaces UberEATS in Singapore with beta launch of GrabFood app

SINGAPORE (May 28): Grab today announced the beta launch of its GrabFood delivery app in Singapore, with further plans to make the app and its services available in five other Southeast Asian countries – Indonesia, Thailand, Vietnam, Malaysia and the Philippines – by the end of 2Q18.

GrabFood is positioned as an “everyday app” to provide Southeast Asian consumers transport, food, delivery and payments services within a single platform.

ComfortDelGro's exit from Uber tie-up comes as no surprise, says CGS-CIMB

SINGAPORE (May 28): CGS-CIMB Research is maintaining its “hold” call on ComfortDelGro with an unchanged target price of $2.37 after announcing it was parting ways with Lion City Rental (LCR), Uber’s wholly-owned car rental subsidiary, in Singapore.  

This comes after ComfortDelGro last week said it would no longer be acquiring a 51% stake in Lion City Holdings, the operator of LCR, following Uber’s exit from the Southeast Asian market after its acquisition by its rival, Grab.

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