Grab was founded in 2012 by Anthony Tan and Hooi Tan. The company operates in Southeast Asia providing rideshare, food delivery, hotel booking, event ticketing, and payment services with its namesake mobile application. As of September 2019, Grab has raised over $9.4 billion inclusive of $700 million in debt. CNBC reported in June 2019 that the firm was valued just under $15 billion. Current investors include SoftBank, Tokyo Century, Alibaba Group, Cinda International Holdings, Microsoft, Sequoia Capital, Goldman Sachs, and Tiger Global Management, to name a few.
If the company does not enter public markets before June 2023 Uber (NYSE: UBER) holds the right to receive a $2 billion cash payment from Grab, according to Uber’s IPO registration documents. Grab’s CEO, Anthony Tan, stated in a February 2019 interview with Nikkei Asian Review that an IPO is an option, but that it wouldn’t occur in 2019.