Grab IPO

grab.in | Transportation | Founded: 2012 | Funding to Date: $9.47B

Grab was founded in 2012 by Anthony Tan and Hooi Tan. In an interview with CNBC from November 2019, CEO Anthony Tan stated that “once we’re profitable, then we can clearly go to public when we want to.” These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.

Grab operates in Southeast Asia providing rideshare, food delivery, hotel booking, event ticketing, and payment services with its namesake mobile application. The company has raised over $9.8 billion in Venture Capital funding from investors including STIC Investments, All-Stars Investments, Finch Capital, Hammerstone Capital, Idinvest Partners, Lightspeed Venture Partners, Reshape Holdings, Sequoia Capital, Skystar Capital, Sonostar Venture, and Struck Capital. It has been widely reported that Grab last raised over $200 million in August 2020 at an undisclosed valuation.

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NEWS

Reuters

Didi looks short on engine power. The Beijing-based ride-hailing group is revving up for what might be the biggest Chinese share offering in New York since Alibaba's (9988.HK) blockbuster debut seven years ago. Boss Will Wei Cheng hopes to raise $10 billion at a $100 billion valuation, Reuters reported citing sources. That uplift from Didi's previous $60 billion or so price tag in 2018 looks out of range.

Reuters

Southeast Asia's Grab, which is going public through a merger worth $40 billion with special-purpose acquisition company Altimeter Growth Corp (AGC.O). Grab said its consolidated gross merchandise value during the first quarter of 2021 was $3.6 billion, an increase of 5.2% over same period a year ago.

Disclaimer

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