Grab is a technology company that offers ride-hailing and logistics services through its app in Singapore and neighboring Southeast Asian nations such as Malaysia, Indonesia, Philippines, Vietnam, Thailand and Myanmar.
Grab is more than just the leading ride-hailing and mobile payments platform in Southeast Asia.
Grab was founded in 2012 by Anthony Tan and Tan Hooi Ling and is based in Singapore. It is Southeast Asia's leading ride-hailing platform. Grab offers services through its app in Singapore and neighbouring Southeast Asian nations Malaysia, Indonesia, Philippines, Vietnam, Thailand, Myanmar, and Cambodia.
GrabTaxi, or MyTeksi as it is known in Malaysia, was officially launched to the public in June 2012. The company expanded to the Philippines in August 2013, and to Singapore and Thailand in October of the same year.
In 2016, Grab added in-app instant messaging to allow simple communication between riders and drivers. It also translates the messages if the languages between rider and driver are different.
Grab will open a new major development centre and office in Seattle that will serve as a tech hub to attract talent in the United States.
Grab is backed by over 40 investors including Tiger Global, GGV Capital, and Venture Vertex Holdings, Temasek Holdings, Mitsubishi UFJ Financial Group Inc., and SoftBank Group among others. The company raised $856M in a new funding on Feb 25, 2020. This brings Grab's total funding to a mammoth $9.82B to date.
Grab was valued at a gigantic $14B from a post-money on Jun 27, 2019. It was only on March 05, 2019 the company was valued at $12.9B, while raising a staggering $1.5B. Grab has also acquired Kudo & iKaaz as well as made investments in OYO & Moca totalling a amount of over $100M.