Grab Announces Ambitious Plans
There is no stopping Grab.
Fresh from a takeover of all of Uber South East Asia's operations, Grab have recently revealed plans to raise another $1 Billion by the end of the year. While this might seem a lot from the outside, the Southeast Asian ride-hailing guru's recently raised $2 Billion from investors including Toyota and OppenheimerFunds, taking their current valuation to $10 Billion.
So just how to they plan to do this? Well, in two ways really. One is through their extensive database as Grab President, Ming Maa explains: "“In Southeast Asia, the reason the value of our data is amplified is because there is no alternative, there are no available data sets to begin with. That’s the shocking part of the opportunity." He also added that while other similar businesses are still failing to turn profit across the world, Grab is already profitable, after just six years. “Investors see value in that duality. Your maturing businesses are getting more profitable, and at the same time there are emerging markets and opportunities they want us to get into" he explained.
The other way Grab hopes to drive up their valuation is by the recent slew of launches from the company. Grab Ventures launched recently in Indonesia, a venture which aims to discover and develop Southeast Asia's next-generation tech leader. Then GrabAds and Ping An Good Doctor have also launched taking August's total of new ventures up to an impressive three.
With such a constant stream of new ventures and ambition, it looks more than likely Grab will hit their latest goal.