Grab Holdings Ltd
general_info_on Grab Holdings Inc.
Grab Holdings Inc.
Technology, Transportation, Food Delivery
Who is Grab?
Grab Holdings Inc, commonly known as Grab, is the first Southeast Asian “decacorn” with a private valuation of over $16 billion. The Singaporean multinational ride-hailing company was founded in 2012 by Anthony Tan and Tan Hooi Ling.
Grab came under the spotlight in 2018 when Uber sold its Southeast Asian business to it, and, in return, it took a stake in the company.
Backed by global investors such as SoftBank Group, Grab managed to expand to a one-stop-shop, offering food delivery and digital payment services. It operates in 8 Asian countries and more than 351 cities.
Grab SPAC statistics
Grab announced that it will go public through a SPAC merger with Altimeter Growth Corp. in a deal that could value the company at $35 billion, making it the largest blank-check merger to date. At the same time with the merger, Grab will also raise about $2.5 billion via a private investment in public equity (PIPE) deal. The Silicon Valley-based Altimer is said to purchase around $1.2 billion worth of PIPE shares.
What is Grab valuation?
So far, Grab has raised $12 billion and holds approximately $5 billion in cash reserves, pushing its private valuation to over $16 billion.
Grab’s net revenue surged 70% in 2020 and saw its delivery business transform into its most significant segment as people started to have food delivered during the pandemic. Its adjusted net revenue figures came in at $1.6 billion, and it is expected to reach $4.5 billion in 2023.
Basic info about Grab
- It was part of the 2020 CNBC Disruptor 50 list
- According to Reuters, its revenue had grown 70% YoY in 2020
- It has acquired three companies, the most recent being Bento on Feb 4, 2020
Sources: crunchbase.com, cnbc.com, cnn.com, businessinsider.com
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