Grab (company)

Grab Holdings Inc., commonly known as Grab, is a Singaporean multinational technology company.[9][10] It is the developer of the Grab super-app, which provides users with transportation, food delivery and digital payments services via a mobile app. Grab currently operates in Singapore, Malaysia, Cambodia, Indonesia, Myanmar, the Philippines, Thailand and Vietnam. It is Southeast Asia's first decacorn,[11][12] and the biggest technology startup in the region.[13]

Grab Holdings Inc.
Formerly
  • MyTeksi (2011–2013)
  • GrabTaxi (2013–2016)
TypePublic
Nasdaq: GRAB (Class A)
Industry
FoundedJune 2012 (2012-06) (as MyTeksi) in Kuala Lumpur, Malaysia[1]
Founders
Headquarters3 Media Cl, one-north, Singapore 138498[2][3][4][5][6]
Area served
Southeast Asia, except Laos, Brunei, and East Timor
ProductsMobile app
Number of employees
6,000 (2019)[7][8]
Websitewww.grab.com

Founded by Anthony Tan and Tan Hooi Ling in 2012 as the MyTeksi app based in Kuala Lumpur, Malaysia, it expanded the next year as GrabTaxi.[14] It has since expanded into other services, following the super-app model. In 2014, it moved its headquarters to Singapore and rebranded as "Grab".

History

Founding and expansion

The idea of creating a taxi-booking mobile app for Southeast Asia, similar to those being pioneered in the US, first came from Anthony Tan (陈炳耀, Chen Bingyao)[15] while he was at Harvard Business School. Motivated to make taxi rides safer in Malaysia, Tan launched the "My Teksi" app in Malaysia in 2012 together with Tan Hooi Ling, another Harvard graduate. MyTeksi was started with an initial grant of US$25,000 from Harvard Business School and Anthony Tan's personal capital.[16][1][17][18] Malaysian Cradle Fund also became one of the earliest investors in MyTeksi.[19]

GrabTaxi expanded to the Philippines in August 2013,[20] and to Singapore and Thailand in October of the same year.[21] In 2014, Grab in partnership with HDT Holdings, introduced 100 BYD e6 electric taxis in Singapore to form the biggest e-taxi fleet in Southeast Asia.[22] In 2014, GrabTaxi further continued its growth and expansion to new countries: first launching in Ho Chi Minh City, Vietnam, in February, and Jakarta in Indonesia in June.[23][24] In May 2014, the company launched GrabCar[25][26] as an alternative form of transportation that uses personal cars instead of taxis through a licensed partner in an effort to overcome the lack of public transportation during peak hours.[27] In November 2014, GrabTaxi launched its first GrabBike service in Ho Chi Minh City as a trial service.[28]

In 2014, GrabTaxi applied for financial grant from Khazanah Nasional, the sovereign wealth fund of the government of Malaysia. However, long internal checks and processes had caused Khazanah to not agree on a deal.[29] Khazanah later defended its move, saying that the company's policy is to invest in well-established companies and has little experience in investing in startups.[30] It was the Singapore government investment fund Temasek Holdings that had agreed to finance US$10 million into GrabTaxi. In the same year, the company moved its headquarter from Malaysia to Singapore.[31] Founder Anthony Tan took up Singaporean citizenship shortly after.[32] By 2015, GrabBike's motorcycle service rides had spread throughout Vietnam and Indonesia. GrabBike also provides medical insurance for their passengers and drivers.[33][34] In February 2015, the company launched GrabCar+ (a service that provides a fleet of higher-end cars) in the Philippines.[25] In November 2015, Grab launched GrabExpress courier service.[35]

Rebranding and additional services

In January 2016, GrabTaxi was rebranded as "Grab" with a new, redesigned logo.[36] In October 2016, Grab added an in-app instant messaging feature called "GrabChat" to allow simple communication between riders and drivers and translate messages if the set languages of the driver and passenger are different.[37] In December 2016, Grab launched the GrabRewards rewards programme[38] and GrabShare taxi and car-sharing services.[39]

In February 2017, Grab launched the GrabCoach service for booking large passenger vehicles.[40] In March 2017, Grab introduced GrabFamily for young children below 7 years old, to fulfill regulations where children under 1.35 metres must be placed on a child booster seat or child restraint.[41] Later that month, Grab launched a simplified flat-fare structure, JustGrab.[42]

In March 2018, Grab merged with Uber's Southeast Asian operations.[43] As part of the acquisition, Grab took over Uber's assets and operations, including UberEats, which led to Grab's expansion of food delivery services.[44] Grab also launched their eScooter rental service known as GrabWheels in March 2018.[45][46]

In April 2017, Grab confirmed the acquisition of Indonesian online payment startup Kudo. The Kudo platform was integrated with Grab's payment system and was Grab's initial step into expanding fintech services.[47] In November 2017, Grab launched GrabPay payment service as a digital payment service among third-party merchants, allowing users to use the app for purchases outside of ride-hailing.[48]

In Jan 2018, Grab acquired financial technology firm iKaaz Software Pvt Ltd and which drives the Grab’s super app’s all payment transactions across all the South East Asian countries.

In May 2018, Grab launched GrabFood food delivery service.[49] In October 2018, Grab launched GrabExpress courier service.[50] In 2018, Grab also launched Grab Financial, a financial arm of the company which offers payment, insurance, and financing services.[51] In November 2018, Grab invested in Indonesian conglomerate Lippo Group's Ovo platform.[52] Ovo is Indonesia's leading digital e-payment platform. In December 2018, Grab launched GrabClub subscription programme.[53]

Headquarters and product launches

In January 2019, Grab announced that it will build a new Singapore headquarters in one-north as it expands its operations. It is expected to be ready in the fourth quarter of 2020.[54] The US$135M facility will be developed and managed by Ascendas Reit (now under CapitaLand).[55] Grab held its ground-breaking ceremony for its future headquarters on 29 March 2019,[56][57] during which it announced a new function to plan journeys and pay for public transportation fares.[58] The headquarters will support a total of 3,000 employees, consolidating its office space currently spread around four locations.[59]

In February 2019, the company launched GrabPet in Singapore. Under the new service, passengers with pets will be allocated to Grab drivers who have received training in pet handling and welcome animals in their vehicles.[60]

In March 2019, Grab announced that they would be implementing a S$4 penalty charge for users who cancel Singapore bookings 5 minutes after it is made. It will also apply if the driver waits at the pick-up point for longer than 5 minutes.[61] Supposed to be implemented on 11 March 2019, the implementation of this policy was delayed to 25 March 2019.[62] In Malaysia, the cancellation fee ranges from RM3 to RM5.[63]

In April 2019, Grab launched its first cloud kitchen (called GrabKitchen) in Indonesia under its food delivery service.[64] 50 GrabKitchens were set up in six Southeast Asian countries within a year.[65] Grab also launched their super app in April 2019 to consolidate its online services into one platform, as well as launching Hotels and Tickets.[66]

In July 2019, Grab announced that it will set up a second headquarters in Jakarta, Indonesia.[67] The company launched "Grab for Good", a social impact program, in September 2019. It partnered with Microsoft to help people in Southeast Asia to access digital literacy programs and certificates.[68]

In November 2019, Grab announced they had partnered with Splyt, allowing selected users to book rides provided by JapanTaxi and Careem using the Grab app in Japan and the Middle East respectively.[69][70]

A month later, Grab, co-branded with Mastercard, launched a numberless payment card (being the first in Asia).[71]

In February 2020, Grab launched GrabCare for healthcare workers in Singapore, starting with 24-hour services to Tan Tock Seng Hospital and National Centre for Infectious Diseases. This came after reports of increased discrimination due to the COVID-19 pandemic, making it difficult for healthcare workers to get rides.[72] Grab also expanded its GrabMart and GrabAssistant services to more cities and countries to meet increased demand for online food and grocery deliveries. To support its driver- and merchant-partners during the outbreak, Grab committed US$40 million to relief initiatives across Southeast Asia.[73]

In November 2020, Grab announced the launch of its Tech Center in Jakarta, Indonesia for micro, small and medium enterprises (MSMEs).[74]

In December 2020, Grab was granted a digital bank licence from Singapore together with Singtel.[75][76] The Grab-Singtel consortium is known as GXS Bank, and Grab holds a 60% stake. GXS Bank is set to launch in 2022.[77]

Public listing and partnerships

In April 2021, Grab announced plans to go public through a SPAC merger with Altimeter Growth Corp., for $39.6 billion. It was reported to be the largest blank-check merger at the time.[78][79][80]

In July 2021, Indonesia's Emtek Group invested $375 million into Grab's Indonesian business unit to accelerate digital adoption of small and medium businesses within the country.[81][82]

In November 2021, Grab partnered with McDonald's in Singapore to integrate GrabExpress, GrabPay and GrabRewards with the restaurant's online and in-store ordering.[83]

Grab debuted on Nasdaq in December 2021 following a SPAC with Altimeter Growth Corp.,[84] where shares opened at $13.06 but declined to $8.75 when the first day of trading began.[85][86] It closed at $7.22 with a market cap of approximately $27 billion a month later.[87] On 3 March 2022, Grab released its first quarterly results, reporting a $3.4 billion annual loss for 2021.[88]

In March 2022, fuel shortages in Vietnam led to increased gasoline prices, and several ride-hailing platforms raised their prices to transfer the increased cost to consumers.[89][90][91] In the same month, Grab also introduced a temporary driver fee in Singapore to help its drivers defray higher operating costs caused by the rise in fuel prices.[92] That same month, the company announced that GrabFood, GrabPay, GrabGifts and its delivery system would be introduced at Starbucks in six markets, including Thailand, Singapore, Malaysia, Indonesia, Vietnam, and the Philippines.[93]

Funding

Grab's investors include venture and hedge funds, automobile companies and other ride-hailing firms. Investors include Japan's Softbank Group and MUFG, Booking Holdings, Toyota and Microsoft.[94][95]

In April 2014, the company secured more than US$10 million in series A funding from Vertex Ventures Southeast Asia & India.[96] The company proceeded to raise another US$15 million in series B funding in May 2014, led by Chinese venture capital firm GGV Capital, with participation from Qunar and Vertex Venture Holdings.[97] In October 2014, the company raised US$65 million in series C funding from US-based hedge fund Tiger Global, GGV Capital, and Venture Vertex Holdings.[98] In December 2014, Grab managed to raise US$250 million in series D funding, invested in full by SoftBank Corp (now SoftBank Group), which Grab claimed to be the largest investment made into a Southeast Asian internet company on public record.[99] In August 2015, Grab raised US$350 million in series E funding round from a range of investors including Didi Kuadi (now Didi Chuxing) and China Investment Corporation (CIC).[100] In September 2016, Grab raised another US$750 million in series F funding from SoftBank, Didi, and Honda.[101][102] In August 2017, Grab raised US$2.5 billion in series G funding from SoftBank, Didi, and Toyota.[103] As of March 2018, Grab was valued at US$6 billion.[17]

In October 2018, Grab raised another $200 million from Booking Holdings (formerly known as Priceline).[104]

In December 2018 the company announced the plans to hold Series H of funding. The total amount of funding is expected to reach $6.5 billion.[105][106]

In April 2019, Grab and Central Group co-invest in 1.8 billion baht to launch the first MEGA O2O ‘Grab x Central: Eat, Shop, Nonstop’

In February 2020, the company announced it had raised a total of $856 million in two tranches: $706 million from Mitsubishi UFJ Financial Group, Inc and $150 million from TIS INTEC, an IT solutions business out of Japan.[107]

In January 2021, Grab Financial Group, the company's financial services unit, raised more than $300 million from South Korea's Hanwha Asset Management.[108][109]

Operations
GrabBike rider in Yogyakarta, Indonesia

Grab started out as a taxi-hailing app, and has extended its products to include ride-hailing, food, grocery and package delivery, and financial services.

The Grab app assigns taxis and private hire cars to nearby commuters through a location-sharing system.[17][110][111] Grab has a food delivery service GrabFood and on-demand delivery services GrabExpress, GrabMart and GrabAssistant.[112] Grab's fintech services include payments, insurance, micro-investment and financing to consumers, micro-entrepreneurs and small businesses through its Grab Financial Group.[113] Grab has a B2B marketplace with ads creation and business insights tools via GrabMerchant. It also has a B2B service called GrabDefence, which was developed as a fraud detection and prevention toolkit to third parties.[114]

Number of users

In May 2014, GrabTaxi said it had 1.2 million downloads. At around June 2013, it claimed to be making one booking every eight seconds, or 10,000 a day, representing sixteen-fold growth within a year.[110] In November 2017, Grab reached one billion rides with 66 concurrent rides in one second across seven countries, occupying 95% market share in the third-party taxi-hailing market and 72% in the private vehicle hailing market. The company also claimed to have two million driving partners, 68 million mobile app downloads, and 3.5 million daily rides.[115] In December 2018, Grab claimed to have served 920 million kilometres worth of rides to its users that year.[116]

As of April 2021, Grab is reported to have more than 214 million app downloads and operations in more than 400 cities.[117] The company has more than 500 deaf and hearing-impaired driver partners.[118] It also has other individuals with disabilities, including some with cerebral palsy, on its platform.[119]

The COVID-19 pandemic has reportedly increased Grab usage of its on-demand delivery, for example, Grab reported the successful onboarding of over 600,000 new merchants across Southeast Asia in 2020.[120] As of December 2020, Grab had 5 million registered driver partners, 2 million merchant partners and 2 million GrabKios agents in Indonesia.[121]

Research and development

As part of its research and development, Grab invests in local technology talent in several countries and different continents. The company improves its services and technological capabilities in AI, mapping, and other technologies through its centres in Singapore, Beijing, Seattle, Bangalore, Ho Chi Minh, Jakarta and Kuala Lumpur.[122] In 2018, Grab and the National University of Singapore launched an artificial intelligence lab to examine transportation in Southeast Asia in a joint investment of $6 million.[123]

Incidents

Cases of Grab drivers harassing their customers and the #MeToo movement in the United States and other countries have also recently emboldened women in Indonesia to speak out against harassment by Grab drivers, such as when a driver asks for personal information or sends them unsolicited messages after a trip.[124]

On 23 September 2016, a female passenger in Singapore was sexually assaulted by an elderly GrabCar driver after she fell asleep during the ride.[125] The driver was jailed for 16 months the following year.[126] On 25 March 2017, a female passenger in Singapore was assaulted by a Grab driver.[127] The driver was subsequently suspended by his taxi company from call bookings, although he was still allowed to pick up passengers on the streets.[128] In May, a GrabCar driver in Chiang Mai, Thailand was arrested for sexual assault.[129] In response, Grab issued a statement and said it "would not tolerate physical violence or verbal abuse".[130]

Disputes have occurred between Grab drivers and local taxi operators as taxi drivers complained about a decline in their passenger numbers and income since Grab (and its competitor Uber) began to gain foothold in their areas.[131] Until December 2016, around 65 assault cases towards GrabBike drivers by local taxibike drivers have been reported in Ho Chi Minh City, Vietnam.[132] Much violence has erupted between Grab drivers and motorbike taxis in two major cities of Hanoi and Ho Chi Minh City in Vietnam with another 47 assaults cases recorded in 2017.[133][134] Grab drivers and passengers in Kuala Lumpur have also been the subject of harassment from local taxi drivers.[135]

On 4 March 2017, a drunk foreign man reportedly attacked a GrabCar driver in Singapore. The man was then arrested and jailed two weeks for his offence.[136] On 26 October, a Grab driver was killed in Pasay, Philippines by a suspect disguised as a legitimate passenger, who subsequently fled with the victim's vehicle and personal belongings.[137][138] The suspect finally surrendered to police two weeks later and confessed that he accidentally killed the latter after the victim refused to give his money.[139][140] Claims out of Chiang Mai in November 2018 accuse Grab of pushing tuk-tuk renters and drivers out of business,[141] which also resulted in violent encounter with enranged tuk-tuk driver in earlier October.[142]

In order to reduce the number of incidents between passengers and drivers, Grab has implemented a number of safety features. Grab installed an emergency button in the app in 2018.[143] Later the same year, Grab rolled out a telematics program to encourage safe driving behaviour for its drivers.[144] In 2019, Grab began asking passengers to take a selfie before riding for identify verification.[145]

In light of COVID-19, Grab announced in April 2020 that top management salaries would be slashed by 20 percent and employees were encouraged to take up voluntary no-pay leave[146] in an effort to manage cost. It was further announced in June 2020 that Grab would be cutting 360 employees, which was just under 5 percent of the total headcount then across their South East Asia offices.[147]

Regulation

In the Philippines, GrabCar was fully legalised after being accredited as a Transportation Network Company (TNC) by the Land Transportation Franchising and Regulatory Board (LTFRB) in 2015.[148] In 2016, Grab motorbike taxi services of Grab and Uber were suspended on claims the services are breaking local rules and clashing with registered transport companies.[149] Further crackdown on the services was continued in early 2017 when a Thai transport official asked the government to ban them although little efforts being done as both services have gain popularity among Thais and foreign visitors in the country.[150] In 2019, it was reported that the Thai government is taking steps to legalise Grab taxi services.[151]

In Singapore, laws that legalised the service were passed in February 2017.[152] A few months later, the Land Transport Authority (LTA) in Singapore introduced a new regulation requiring private hire cars to have Private Hire Car Driver's Vocational Licence (PDVL) which took effect in July 2017.[153]

On 4 April 2017, the Malaysian government tabled amendments to existing transport laws that would regulate transport application services and protect drivers from harassment. Through the amendment, Grab and Uber vehicles were classified as public service vehicles as part of the move to legalise both services in its efforts to transform the country's public transport services.[154] The amendments were passed by the Parliament of Malaysia on 28 July 2017, which directly legalised both services to operate in the country.[155]

In 2017, the Vietnamese Ministry of Transport set to review the legal status of both Grab and Uber to ensure a fair business environment for firms.[156] A draft of a new circular was submitted in early 2018 that includes regulations for passenger transport (by car) through software such as Grab.[157] In early 2020, a decree was passed to legalise Grab and other ride-hailing platforms in Vietnam.[158]

In Cambodia and Singapore, Grab supported local governments in traffic management and infrastructure development through its data and technology.[159][160] In Malaysia, Grab has also received the support of the Malaysian Public Land Transport Commission (SPAD) when the government department introduced the use of technology using the GrabTaxi applications to enhance the efficiency of taxi drivers in Malaysia. The company is working with the government department to improve the image of taxi drivers in the country by making it safer and more convenient to hail a taxi.[161][162][163]

Grab has also partnered the authorities to build more environmentally sustainable transport networks. It co-launched an Electric Vehicle (EV) Ecosystem Roadmap with the Indonesian government to accelerate electric vehicle adoption.[164] Grab supports local governments in Malaysia, Philippines, Myanmar in promoting road safety and combating crimes through its network of drivers and technology on its app, such as facial recognition.[165] The company also promotes food safety in collaboration with the Vietnamese authorities.[166] The company has agreements with authorities in Philippines and Indonesia to promote the growth and recovery of the tourism sector.[167][168] It was also appointed by the Malaysian government as an official partner to drive e-wallet adoption among citizens.[169] During the COVID-19 pandemic, it partnered governments in Malaysia, Philippines, Thailand and Indonesia to enable farmers and fisheries to sell their products and process digital payments on the Grab app.[170][171]

Recognition

From 2017 to 2020, Grab ranked as a CNBC Disruptor 50 as one of the fastest growing and most innovative start-ups.[172] Tan was recognised in the 2017 Bloomberg 50 for Grab's growth in the region and also ranked among the 100 Most Creative People in Business by Fast Company in 2018.[173][174]

Grab ranked second among the 50 most innovative companies of 2019 by Fast Company.[175] In 2020, Grab was also one of the 50 companies listed on Fortune's "Change the World" list, for addressing social issues through its services during the COVID-19 pandemic.[176] In 2020, Grab was also listed on The Fintech Power 50 annual guide, for simplifying financial services for the unbanked and underbanked.[177]

References
  1. Kumar, Dhaleta Surender (11 February 2014). "My first venture was at 11, says Anthony Tan, who traded comics then". e27. Retrieved 20 March 2015.
  2. Purnell, Newley (4 July 2016). "Uber Rival Grab Gains Ground in Southeast Asia". The Wall Street Journal. Archived from the original on 15 July 2017. Retrieved 2 January 2018.
  3. Tan, Sue-ann (11 August 2022). "New Grab HQ in S'pore will house merchant centre to help small firms grow online". www.straitstimes.com. Retrieved 12 August 2022.
  4. Ishak, Syahindah (11 August 2022). "Grab launches new 9-storey HQ in S'pore, houses 3,000 employees & R&D centre". mothership.sg. Retrieved 12 August 2022.
  5. Yeoh, Grace (11 August 2022). "Grab launches US$1 million annual scholarship, bursary programme at opening of Singapore headquarters". CNA. Retrieved 12 August 2022.
  6. Ong, Janet (11 August 2022). "Grab officially opens Singapore HQ, launches US$1m scholarship programme". sg.finance.yahoo.com. Retrieved 12 August 2022.
  7. Daryl Choo. "Grab to double its headcount in S'pore by end-2020 when new HQ opens". Today Online. Retrieved 9 June 2020.
  8. "Grab to Double Singapore Staff to 3,000 in Latest Expansion". Retrieved 2 September 2019.
  9. "Grab Privacy Policy". Grab SG. Retrieved 7 June 2019.
  10. Culpan, Tim (19 December 2018). "Grab Is Looking Heavier by the Day. Thanks Toyota". The Washington Post. Archived from the original on 19 December 2018. Retrieved 7 June 2019.
  11. Chia, Rachel Genevieve (20 November 2018). "Grab, SEA's first 'decacorn', has mopped up 25% of investments in the region's internet economy since 2015: Google-Temasek report". Business Insider Singapore. Archived from the original on 25 February 2019. Retrieved 25 February 2019.
  12. Pham, Sherisse. "Grab is valued at $14 billion after getting a big cash boost from SoftBank". CNN Business.
  13. Daga, Anshuman (31 January 2021). "Grab upsizes debut term loan to $2 bln on strong investor demand". Reuters.
  14. "From MyTeksi to Grab: Why our startup picked SEA over the world". EDB Singapore. 6 June 2019.{{cite web}}: CS1 maint: url-status (link)
  15. 凤凰网：彭博2017全球50大最具影响力人物：刘炽平、孙正义上榜  
  16. "Anthony Tan – MBA 2011". Havard Business School. Archived from the original on 11 January 2018. Retrieved 11 January 2018.
  17. Siddharth, Philip (10 June 2014). "Harvard Inspires Man to Ditch Family Riches for Taxis" (PDF). Bloomberg. Singapore Management University. Archived from the original on 1 January 2018. Retrieved 17 April 2015.
  18. Cheong, Kash (30 April 2014). "GrabTaxi: Currently the most prominent third-party taxi app in the region". The Straits Times. Archived from the original on 8 December 2014. Retrieved 17 April 2015.
  19. Aziz, Iylia (24 October 2017). "10 Years In, Cradle's CEO Reveals His 5 Most Memorable Startups & Why They Got Funded". The Vulcan Post. Archived from the original on 7 May 2021. Retrieved 5 December 2021.
  20. Calvin (13 July 2014). "GrabTaxi officially launched in the Philippines". Pinoy Tech Blog. Retrieved 19 March 2015.
  21. "MyTeksi launches GrabTaxi in Bangkok and Singapore". Digital News Asia. 21 October 2013. Retrieved 20 March 2015.
  22. Gerard Lye (24 February 2017). "BYD introduces biggest e-taxi fleet in Southeast Asia". paultan.org.
  23. Do, Anh-Minh (26 February 2014). "MGrabTaxi enters Vietnam, intensifying the battle for mobile taxi booking apps". Tech in Asia. Retrieved 20 March 2015.
  24. Minh, Anh (6 June 2014). "GrabTaxi launches beta trial in Jakarta". Digital News Asia. Retrieved 20 March 2015.
  25. Schnabel, Chris (19 February 2015). "GrabCar PH relaunches". Rappler. Retrieved 13 April 2015.
  26. "MyTeksi launches GrabCar service". Bernama. Free Malaysia Today. 17 May 2014. Archived from the original on 19 September 2017. Retrieved 13 April 2015.
  27. "What's the big deal about GrabCar?". GrabCar. The Star (Malaysia). 4 September 2015. Archived from the original on 6 June 2017. Retrieved 4 January 2018.
  28. Luan, Thanh (28 November 2014). "Vietnam's xe om service enters digital age with GrabBike app". Thanh Nien News. Retrieved 30 November 2014.
  29. Sidhu, JS (16 January 2016). "Beyond Legacy Investments". The Star (Malaysia). Archived from the original on 17 January 2016. Retrieved 28 February 2021.
  30. "Khazanah focuses on big deals rather than start-ups". Free Malaysia Today. 5 August 2022. Archived from the original on 5 August 2022. Retrieved 12 August 2022.
  31. Ann, Shi (2 June 2017). "How Vertex lured Grab to Singapore". Finance Asia Magazine. Retrieved 2 January 2018. But long before it became a hot name, Grab founder Anthony Tan took the decision to move the company from his native Malaysia south to Singapore. The move came after it secured $10 million of series A funding from Vertex Venture Holdings, Singapore's biggest venture capital firm and a unit of Temasek, the Singapore government investment fund.
  32. "Anthony Tan's family splashes 40m on a new bungalow in Holland Village". asiaone. According to the company's filings with the Singapore government in 2017, Anthony took up Singaporean citizenship in 2016.
  33. Tay, Daniel (20 May 2015). "GrabTaxi's motorcycle service rides into its third city, offers free rides in Jakarta". Tech in Asia. Retrieved 22 May 2015.
  34. Leesa Nguansuk, Suchit (6 August 2015). "GrabBike debuts in Bangkok". Bangkok Post. Retrieved 8 August 2015.
  35. "GrabBike launches door-to-door courier service GrabExpress in Indonesia". e27. 23 November 2015. Retrieved 12 December 2021.
  36. Kah Leng, Lee (28 July 2016). "MyTeksi rebrands into Grab". The Star (Malaysia). Archived from the original on 12 January 2017. Retrieved 1 January 2018.
  37. "Grab launches instant messaging platform". ABS-CBN News. 25 October 2016. Retrieved 30 August 2017.
  38. "Grab Beta Launches GrabRewards to Make Rides Even More Rewarding". Grab SG. 8 December 2016. Retrieved 25 June 2020.
  39. Tegos, Michael (6 December 2016). "Grab launches GrabShare, its own version of UberPool". Tech in Asia. Retrieved 5 January 2018.
  40. Tegos, Michael (7 February 2017). "Grab gets into coach booking for groups of passengers". Tech in Asia. Retrieved 5 January 2018.
  41. Shazni, M. (9 March 2017). "Grab Now Lets Your Kids (Legally) Get On Rides With You, Thanks To A Pint-Sized Booster Seat". Vulcan Post. Retrieved 10 March 2017.
  42. Lim, Kenneth (22 March 2017). "Grab combines taxi and private hire fleets for new fare pricing". Channel NewsAsia. Retrieved 22 March 2017.
  43. Danielle Keeton-Olsen (26 March 2018). "Grab Officially Takes Control Of Uber's Southeast Asia Operations". Forbes. Retrieved 20 December 2018.
  44. Danielle Keeton-Olsen. "Grab Officially Takes Control Of Uber's Southeast Asia Operations". Forbes. Retrieved 20 August 2020.
  45. "Grab launches bike, e-scooter sharing app GrabCycle". CNA. Retrieved 25 June 2020.
  46. "Grab and e-scooter rivals hit regulatory bumps in Southeast Asia". Nikkei Asian Review. Retrieved 25 June 2020.
  47. Nadine Freischlad. "Grab confirms it will acquire Kudo to boost digital payments". Tech In Asia. Retrieved 2 October 2020.
  48. Cheok, Jacquelyn (30 November 2016). "Grab launches GrabPay Credits". The Business Times. Retrieved 25 June 2020.
  49. "Grab launches GrabFood in Singapore; to offer service soon in Southeast Asia". CNA. Retrieved 25 June 2020.
  50. hermesauto (22 October 2018). "Grab to trial its GrabExpress courier service in Singapore on Tuesday". The Straits Times. Retrieved 25 June 2020.
  51. John Adams. "Grab expands reach, services through new fintech platform". PaymentsSource. Retrieved 2 October 2020.
  52. "Grab expands into Indonesia e-payments, taking battle to Go-Jek". Asian Nikkei Review. Retrieved 2 February 2019.
  53. "Grab launches monthly subscription programme called GrabClub". www.marketing-interactive.com. Retrieved 25 June 2020.
  54. "Grab to get new S$181 million headquarters in Singapore". Channel NewsAsia. Retrieved 2 February 2019.
  55. "Ascendas Reit to develop and manage Grab's new headquarters". Straits Times. Retrieved 31 January 2019.
  56. "Speech for Groundbreaking Ceremony of Grab's new Headquarters in Singapore, March 29, 2019". LinkedIn. 30 March 2019. Retrieved 20 September 2019.
  57. "Groundbreaking Ceremony of Grab Headquarters". MOF. 29 March 2019. Archived from the original on 20 September 2019. Retrieved 20 September 2019.
  58. Abdullah, Zhaki (29 March 2019). "Grab app to feature public transport options in coming months". The Straits Times. Retrieved 19 September 2019.
  59. "Grab to double Singapore staff to 3,000 in latest expansion". The Straits Times. 29 March 2019. Retrieved 19 September 2019.
  60. "Grab launches on-demand GrabPet transport option". Channel NewsAsia. Retrieved 21 February 2019.
  61. Ng, Gilaine (3 March 2019). "Grab users can soon cancel rides within 5 minutes for free but will be charged $4 thereafter under new policy". The Straits Times. Retrieved 19 September 2019.
  62. "Grab delays roll-out of S$4 cancellation fee till March 25". TODAYonline. Retrieved 11 March 2019.
  63. "Grab: Cancellation fee only for passengers who 'intentionally abuse' service". Malay Mail. Retrieved 22 March 2019.
  64. "Grab introduces the first GrabKitchen to Bangkok to empower GrabFood ecosystem". TechSauce. Retrieved 20 August 2020.
  65. Hsu Myat Lin Naing. "Grab opens first GrabKitchen in Yangon". Myanmore. Retrieved 20 August 2020.
  66. "Grab Introduces Four New Services in Singapore in its Super App". Grab SG. 23 April 2019. Retrieved 25 June 2020.
  67. Pillai, Sharanya (10 November 2020). "Grab launches tech centre in Indonesia, its second headquarters". The Business Times.
  68. Chua, Kyle (26 September 2019). "Grab partners with Microsoft for digital literacy initiative". Rappler.com.
  69. Tariq, Qishin (20 November 2019). "Grab now lets some users book rides while travelling in Japan and the Middle East". The Star Online.
  70. "Grab launches cab-hailing tie-up in Japan". Nikkei Asian Review. Retrieved 14 January 2020.
  71. "Grab, Mastercard launch GrabPay, Asia's first numberless card". MobilePaymentsToday. Retrieved 2 October 2020.
  72. "Grab to pilot service offering round-the-clock rides home for healthcare professionals". CNA. 12 February 2020. Retrieved 16 February 2020.
  73. Miguel Cordon. "Grab set to make 'tough decisions and trade-offs' amid Covid-19 outbreak". Tech In Asia. Retrieved 2 October 2020.
  74. "Grab launches Grab Tech Center in Indonesia". KrASIA. 10 November 2020.
  75. "Grab-Singtel and Ant Group win digital bank licenses in Singapore". TechCrunch. Retrieved 7 December 2020.
  76. "Singapore picks Grab, Ant Group, others for four digital banking licenses". CNBC. 4 December 2020. Retrieved 10 December 2020.
  77. Mulia, Khamila (28 March 2022). "Building a next-generation financial institution: A conversation with Jean Fernandes, CFO of GXS Bank". KrASIA. Retrieved 31 March 2022.
  78. hermesauto (2 December 2020). "Grab, Gojek close in on terms for merger". The Straits Times. Retrieved 7 December 2020.
  79. León, Riley de (13 April 2021). "SoftBank-backed Grab agrees to deal to go public in world's largest SPAC merger". CNBC.
  80. Yoolim Lee; Julia Fioretti (14 May 2021). "Grab's SPAC Vehicle Altimeter Near Record Low After 28% Dive". Bloomberg. Retrieved 27 May 2021.
  81. "Grab raises more money to conquer Indonesia; this round its $375 million by Emtek Group". Entrepreneurship News, Community, and Resources | BEAMSTART. Retrieved 29 July 2021.
  82. "Indonesian media conglomerate, Emtek, to invest $375m in Grab's Indonesia unit - News Asia Today". Retrieved 29 July 2021.
  83. "Grab expands partnership with McDonald's Singapore". Tech In Asia. 22 November 2021.
  84. Batarags, Lina (30 November 2021). "Singapore-based Grab is set to make its Nasdaq debut, months after agreeing to go public in the largest-ever SPAC merger". Business Insider. Retrieved 1 December 2021.
  85. York, Yifan Wang in Singapore and Dave Sebastian in New (2 December 2021). "Grab Shares Tumble in Trading Debut After Blockbuster SPAC Deal". Wall Street Journal.
  86. Ruehl, Mercedes; Kruppa, Miles (3 December 2021). "Grab shares fall sharply after world's biggest Spac deal". Financial Times. Retrieved 4 December 2021.
  87. "Grab had a bumpy month after going public on the Nasdaq. What's next?". KrASIA. 5 January 2022. Retrieved 11 January 2022.
  88. "Grab reports USD 1 billion loss in Q4 on heavy incentive spending". KrASIA. 4 March 2022. Retrieved 8 March 2022.
  89. "Grab, Be Group, and Baemin raise fares in Vietnam amid soaring gasoline prices". KrASIA. 10 March 2022. Retrieved 10 March 2022.
  90. Anh Tu (7 March 2022). "Grab to increase all service fares". VnExpress International. Retrieved 10 March 2022.
  91. "App-based taxi service prices sharply increase | DTiNews - Dan Tri International, the news gateway of Vietnam". dtinews.vn. Retrieved 10 March 2022.
  92. Teng, Angela (30 March 2022). "Ride-hailing giant Grab, Tada, and ComfortDelGro taxi to raise transport fees from April". Vulcan Post. Retrieved 31 March 2022.
  93. "Grab, Starbucks partner for regional payments, delivery". Tech In Asia. 21 March 2022.
  94. "SoftBank To Invest In Grab's Series H, Boosting The Latest Round Up To US$5 Billion". 26 December 2018.
  95. "Grab's bumper US listing: What you need to know about South-east Asia's biggest start-up". The Straits Times. 15 April 2021.
  96. Cartherine, Shu (17 April 2014). "GrabTaxi Raises Series A, Prepares To Expand In Southeast Asia". Tech Crunch. Archived from the original on 8 July 2017. Retrieved 1 January 2018.
  97. Catherine, Shu (28 May 2014). "GrabTaxi Raises $15M Series B Led By GGV Capital". Tech Crunch. Archived from the original on 7 July 2017. Retrieved 1 January 2018.
  98. Huang, Elaine (21 October 2014). "[Updated] GrabTaxi raises Series C round of about US$65M". e27. Archived from the original on 6 December 2017. Retrieved 1 January 2018.
  99. Tay, Daniel (4 December 2014). "GrabTaxi raises a record-breaking US$250 mil, plans to leave other regional players in the dust". Tech in Asia. Retrieved 20 March 2015.
  100. Russell, Jon (18 August 2015). "GrabTaxi Lands $350M From China's Top Uber Rival Didi Kuaidi And Others". Tech Crunch. Archived from the original on 16 November 2017. Retrieved 1 January 2018.
  101. Russell, Jon (19 September 2016). "Uber rival Grab raises $750M led by SoftBank at a $3B valuation". Tech Crunch. Archived from the original on 16 November 2016. Retrieved 1 January 2018.
  102. Kokalitcheva, Kia (12 December 2016). "Honda Inks Deals with Uber's Main Ride-Hailing Rival in Southeast Asia". Fortune. Archived from the original on 5 August 2017. Retrieved 1 January 2018.
  103. Russell, Jon (30 August 2017). "Uber rival Grab nets strategic investment from Toyota". Tech Crunch. Archived from the original on 17 December 2017. Retrieved 1 January 2018.
  104. "Southeast Asia's Grab pulls in $200M from travel giant Booking". TechCrunch. 29 October 2018. Retrieved 31 October 2018.
  105. "Exclusive: Grab targets another $2 billion funding this year: CEO". Reuters. 8 April 2019. Retrieved 8 April 2019.
  106. "Grab raises fundraising target to $5B as Southeast Asia's ride-hailing war heats up". TechCrunch. Retrieved 28 December 2018.
  107. "Grab raises up to $856M to boost payments business as rumors swirl of a merger with rival Gojek". TechCrunch. Retrieved 27 February 2020.
  108. "Grab Financial said to have raised over $300m led by Hanwha Asset Management". DealStreetAsia. Retrieved 8 January 2021.
  109. "Grab may remain unprofitable until 2023; raises over $300 million for financial services arm". Startup News, Networking, and Resources Hub | BEAMSTART. Retrieved 8 January 2021.
  110. Lee, Terence (21 October 2014). "GrabTaxi is one of Southeast Asia's hottest startups. Here's how it's kicking ass". Tech In Asia. Archived from the original on 16 July 2015. Retrieved 1 January 2018.
  111. Salim, Zafirah (19 March 2021). "From MyTeksi To Grab: How This "Decacorn" Grew From A Ride-Hailing Startup To A Super App". Vulcan Post. Retrieved 27 May 2021.
  112. Esmael, Lisbet K. (4 April 2020). "Grab now in Iloilo, Davao, Pampanga, Bacolod". The Manila Times.
  113. Hungerford, Nancy (2 April 2018). "It won out against Uber. Now Grab is setting its sights on another target". CNBC.
  114. Yu, Doris (8 June 2020). "Grab unveils B2B marketplace to help small businesses go online". Tech In Asia.
  115. Sulhi, Azman (7 November 2017). "Grab surpasses one billionth ride". The Edge Markets. Archived from the original on 7 November 2017. Retrieved 2 January 2018.
  116. "Grab reveals how much users spent on rides in 2018". ABS-CBN News. 31 December 2018. Retrieved 1 January 2019.
  117. "Grab mulling secondary Singapore listing after SPAC merger".
  118. "Grab launches social impact program to upskill Southeast Asians".
  119. "Jobless for 7 years, woman with cerebral palsy finds hope, faces new hurdles".
  120. Salim, Zafirah (5 January 2021). "Grab President Says Revenue Has Jumped 70% In 2020 - What Can We Expect From Grab In 2021?". Vulcan Post. Retrieved 25 January 2021.
  121. "Here's A Look At Grab's Latest Investor Presentation Slides Ahead Of Its S$53B US Listing".
  122. Hawkins, Andrew J. (13 January 2016). "The Uber of Southeast Asia is opening a tech hub in Seattle". The Verge. Retrieved 16 January 2016.
  123. Cheok, Jacquelyn (18 July 2018). "Grab and NUS launch $6-million AI lab which will use data to improve transport". The Straits Times.
  124. Resty Woro Yuniar (22 October 2018). "Have you been Grabbed? #MeToo, say Indonesians". South China Morning Post. Retrieved 24 October 2018.
  125. "Elderly GrabCar driver sexually assaulted 21-year-old student who fell asleep in his car". The Independent. 24 November 2017. Retrieved 25 November 2017.
  126. Chong, Elena (25 November 2017). "GrabCar driver jailed for molesting student". The Straits Times. Retrieved 26 November 2017.
  127. "Grab taxi driver who allegedly assaulted passenger under police investigation". The Independent. 27 March 2017. Retrieved 28 March 2017.
  128. "GrabTaxi driver under investigation for assaulting passenger". Today Online. 27 March 2017. Retrieved 28 March 2017.
  129. "Grab Car driver charged with sexual assault". Love Pattaya Thailand.com. 29 May 2017. Retrieved 30 May 2017.
  130. "Grab driver held for assaulting female student". The Star (Malaysia). 14 August 2017. Retrieved 15 August 2017.
  131. Maulia, Erwida (23 March 2016). "Jakarta arrests 83 as anti-Uber, Grab rallies grow violent". Nikkei Asian Review. Archived from the original on 25 March 2016. Retrieved 25 March 2016.
     • D. Cabuenas, Jon Viktor (27 March 2017). "Taxi drivers' group storms LTFRB to protest vs. Grab, Uber". GMA News. Retrieved 28 March 2017.
     • "KL cabbies stop traffic in Uber, GrabCar protest". The Star/Asia News Network. The Straits Times. 30 March 2016. Retrieved 31 March 2016.
     • "Grab versus Cab: Thai taxi drivers told to stop harassing Grab and Uber drivers". Coconuts Bangkok. 26 June 2017. Retrieved 27 June 2017.
     • "Hanoi taxis protest Grab, Uber with bumper stickers". Tuoi Tre News. 5 October 2017. Retrieved 6 October 2017.
     • "Sarawak cab drivers go on strike in protest against Grab, Uber". New Straits Times. Today Online. 9 January 2018. Retrieved 9 January 2018.
  132. "65 assaults on GrabBike drivers in Ho Chi Minh City this year: Grab Vietnam". Tuoi Tre News. 2 December 2016. Retrieved 2 December 2016.
  133. Anh, Quoc (16 June 2017). "Turf war between Grab crew and motorbike taxis gets violent in Saigon". VnExpress. Retrieved 18 June 2017.
  134. Bui, Trang; Le, Lam (25 June 2017). Violence erupts between Grab crews and traditional motorbike taxis in Hanoi, Saigon (01:33). VnExpress. Retrieved 26 June 2017.
  135. Bavani, M; Ravindran, Shalini (14 April 2016). "KL's Uber, GrabCar drivers face increasing harassment from cabbies". The Star (Malaysia). Retrieved 2 December 2016.
  136. Chong, Elena (21 September 2017). "Man jailed two weeks for attacking Grab driver". The Straits Times. The New Paper. Retrieved 22 September 2017.
  137. "'Good Samaritan' Grab driver shot dead by carnappers posing as passengers". CNN Philippines. 28 October 2017. Retrieved 29 October 2017.
  138. Peralta-Malonzo, Anne (31 October 2017). "3 'persons of interest' cleared by police in killing of Grab driver". Sun.Star Manila. Retrieved 31 October 2017.
  139. "Suspect in Grab driver slay surrenders". The Philippine Star. 8 November 2017. Retrieved 8 November 2017.
  140. Peralta-Malonzo, Anne (8 November 2017). "Suspect says he didn't mean to kill Grab driver". Sun.Star Manila. Retrieved 8 November 2017.
  141. "Grab and illegal tuk-tuks killing Chiang Mai rental company". The Thaiger. 8 November 2018. Retrieved 8 November 2018.
  142. "Violent tuk-tuk driver faces charges over incident at Chiang Mai airport – VIDEO". The Nation. The Thaiger. 2 October 2018. Retrieved 8 November 2018.
  143. "Grab installs emergency button on app". The Jakarta Post. 21 May 2018.
  144. Choo, Cynthia (16 October 2018). "Grab pledges safer rides for passengers with alert system monitoring driver fatigue levels". Today.
  145. Chu, Mei Mei (8 June 2019). "No selfie, no ride, Grab tells users". The Star.
  146. "'Coronavirus: Grab slashes senior executives' pay by up to 20%, tells drivers extra financial help may stop after June 1'".
  147. "'COVID-19: Grab cuts 360 employees in 'last organisation-wide layoff' this year'".
  148. "GrabCar fully legalised as a transport company in the Philippines". Digital News Asia. 7 July 2015. Retrieved 8 July 2015.
  149. "Thailand suspends Uber and Grab motorcycle taxi service". BBC News. 19 May 2016. Retrieved 20 May 2016.
  150. Tanakasempipat, Patpicha; Thepgumpanat, Panarat; Tostevin, Matthew; Anantharaman, Muralikumar (7 March 2017). "Thai transport authorities crackdown on Uber, Grab drivers, seek ban". Reuters. Retrieved 8 March 2017.
  151. Taylor, Maya (7 September 2019). "Ride-sharing services to be legal in Thailand by 2020". The Thaiger.
  152. "Singapore's Uber, Grab drivers now need to be licensed". Channel NewsAsia. 7 February 2017. Retrieved 7 February 2017.
  153. Yew Chin, Leow (10 February 2017). "Private Hire Cars Not Exempt from Child Seat Requirement". Land Transport Authority (Singapore). Retrieved 8 January 2018.
  154. "Bills to legalise Grab, Uber tabled in Malaysian Parliament". Today Online. 4 April 2017. Retrieved 5 April 2017.
  155. Lim, Shawn (28 July 2017). "Malaysia's parliament passes laws to legalise Uber and Grab". The Drum. Retrieved 28 July 2017.
  156. "Vietnam to review Uber, Grab legal status". Vietnam News Agency. People's Army Website. 25 December 2017. Retrieved 26 December 2017.
  157. "Uber, Grab under tighter supervision". Vietnam News Agency. Vietnam Net. 8 January 2018. Retrieved 9 January 2018.
  158. "Grab and other ride-hailing platforms in Vietnam can now operate as legal businesses". Vietnam Times.
  159. Abdullah, Zhaki (29 August 2018). "URA partners Grab to study commuter travel patterns". The Straits Times.
  160. "Grab launches in Cambodia with Ministry of Public Works and Transport". Fintech Singapore. 19 December 2017.
  161. Darlyne Chow, Melissa (14 September 2014). "MyTeksi app to drive Penang tourism". New Straits Times. Retrieved 20 March 2015.
  162. Carvalho, Martin (21 October 2014). "Myteksi calls for 'level playing field' to compete with Uber". The Star (Malaysia). Retrieved 20 March 2015.
  163. "SPAD introduces MyTeksi, TaxiMonger apps to enhance efficiency of cabbies of cabbies". Bernama. The Borneo Post. 12 December 2012. Retrieved 20 March 2015.
  164. "Grab and Indonesian Government Go Full Speed Ahead With Electric Vehicle Ecosystem Roadmap". Techsauce. 13 December 2019.
  165. Zainal, Hanis (11 April 2019). "Grab implements passenger verification using face recognition tech". The Star.
  166. "Grab accompanies Ministry of Health to improve food safety awareness". Vietnam Investment Review.
  167. Cordero, Ted (28 August 2019). "DOT takes Grab Philippines as partner in regional promotion for PHL tourism awareness". GMA News Online.
  168. Kholisdinuka, Alfi (29 May 2020). "Jurus Grab Tingkatkan Pariwisata & UMKM di Era New Normal". Detik Travel.
  169. "Unicorn Grab Partners with Malaysia's Government to Drive e-Wallet Usage in Country". Next Unicorn. 30 December 2019.
  170. Rahman, Dzulfiqar Father (15 April 2020). "Govt partners with food, ride-hailing companies to guarantee food supplies during outbreak". The Jakarta Post.
  171. Harrison, Polly Jean (4 November 2020). "Grab, DTI and Mayani Collaborate to Help Filipino Farmers Go Digital". The Fintech Times.
  172. "16. Grab". CNBC. 16 June 2020.
  173. "Anthony Tan". Bloomberg. 30 November 2017.
  174. "The Most Creative People In Business 2018". Fast Company.
  175. Mokhtar, Faris (21 February 2019). "Grab ranked 2nd among world's 50 most innovative companies". Today.
  176. "Grab Rank 35". Fortune.
  177. "Driving Southeast Asia Forward". The Fintech Power 50.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.