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 ...
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 ...
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. More than a fortnight after the whole incident, many ...
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 ...
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 ...
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 ...
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. The Japanese ...
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 ...
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, ...
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, ...