Inside Grab: From 2012 to Now Into a $12.1 billion business
Startup Type:
Headquarter: Singapore, Singapore
Current Status: Active (public via SPAC since 2021)
Founders: Anthony Tan, Tan Hooi Ling
Founded Year: 2012
Investors: SoftBank, Didi Chuxing, Toyota Motor Corp.
Funding Raised: $12.1 billion
What Is the business model of Grab?
Super-app offering ride-hailing, food delivery, digital payments, and other on-demand services across Southeast Asia; monetizes via ride/delivery commissions and financial services fees
How Grab got started?
Began in 2012 as GrabTaxi in Malaysia, when Harvard classmate Anthony Tan created a taxi-hailing mobile app to improve safety, later moved HQ to Singapore and expanded services across Southeast Asian countries, rebranding simply as Grab
what growth strategy has Grab followed?
Executed aggressive localization and diversification – offering localized services and adding financial services for the unbanked, used heavy subsidies and promotions funded by massive investment to outcompete rivals and become the region’s super-app
what are the top products/features of Grab
Grab ride-hailing, GrabFood delivery, GrabPay digital wallet, GrabExpress parcel delivery
what was the biggest challenge faced by Grab?
Operating in diverse regulatory and competitive environments across Southeast Asia, including challenging incumbent local transport operators and managing a costly rivalry with Uber (which it eventually acquired in the region in 2018, drawing antitrust scrutiny)