Uber’s Southeast Asia operations acquired by competitor Grab

Uber’s Southeast Asia operations acquired by competitor Grab

Following weeks of speculation, Uber has sold its business in Southeast Asia to Singapore-based rival Grab. The deal will net Uber a 27.5 percent stake in Grab, while Uber’s CEO Dara Khosrowshahi will join Grab’s board. It’s said to be the largest acquisition by a Southeast Asian firm. Grab, meanwhile, will take over Uber’s operations […]

Ride-hailing app Grab now offers micro-loans and other financial services

Ride-hailing app Grab now offers micro-loans and other financial services

South East Asian ride-hailing firm Grab has moved deeper into financial services with the launch of a dedicated unit and the introduction of micro-loans and insurance products. Grab Financial will encompass all of Grab’s fintech offerings, including payments services, rewards and loyalty services, agent network services and now also financial services. Grab has been progressively […]

Grab joins hands with Red Cross to support those in need across Southeast Asia

Grab joins hands with Red Cross to support those in need across Southeast Asia

Grab and the International Federation of Red Cross and Red Crescent Societies (IFRC) today announced a partnership to raise additional funds for supporting vulnerable communities, including those affected by disasters. The collaboration between the world’s largest humanitarian network and Southeast Asia’s leading on-demand transportation and mobile payments platform will enable Grab users to convert their […]

Google invests in Indonesia’s ride-hailing leader Go-Jek

Google invests in Indonesia’s ride-hailing leader Go-Jek

Google has confirmed its investment in Go-Jek, the hail-railing service that rivals Uber and Grab in Indonesia. TechCrunch reported the investment earlier this month, which was made alongside China’s Meituan-Dianping and Singaporean sovereign fund Temasek. The trio were part of a final tranche of a $1.2 billion round that Go-Jek began negotiating on last April, […]

Uber rival Grab acquires Indian startup to bulk up its mobile payment platform

Uber rival Grab acquires Indian startup to bulk up its mobile payment platform

Southeast Asian ride-hailing firm Grab today said it has acquired Bengaluru-based payments startup iKaaz to strengthen its payments platform. Grab, which competes with the likes of US-based Uber, said the “rich functionality of iKaaz mobile payments platform and its experienced leadership team will accelerate feature development and partner integration of GrabPay (its payments platform)”. It, […]

Hyundai is investing in Grab, one of Uber’s biggest rival in Southeast Asia

Hyundai is investing in Grab, one of Uber’s biggest rival in Southeast Asia

Hyundai Motor has invested in Singapore-based ride-hailing firm Grab, on of Uber’s biggest ride-hailing rival in Southeast Asia, as the South Korean automaker looks to expand beyond its traditional business of producing and selling vehicles. Grab did not disclose the value of Hyundai’s investment. Hyundai joined other investors, including Didi Chuxing, SoftBank and Toyota Tsusho (Toyota’s […]

Singapore Airlines and Grab Agree on Extensive Partnership

Singapore Airlines and Grab Agree on Extensive Partnership

Singapore Airlines (SIA) and Grab announced a partnership to provide customers with more seamless travel experiences. SIA and Grab will integrate their mobile apps to offer enhanced convenience to customers when travelling to the airport in six countries across Southeast Asia, including Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. This marks the coming together […]