Grab poised to become SE Asia’s most valuable startup
Uber rival in talks for US$2 billion from SoftBank, Didi
Southeast Asia ride-hailing app Grab is in talks to raise as much as US$2 billion from telecom giant SoftBank and China’s Didi Chuxing, the Wall Street Journal reports Friday.
The investment could push Grab’s valuation past the US$5 billion mark, making it Southeast Asia’s most valuable startup.
Grab is Uber’s largest competitor in the region, and the boost for the Singapore-based tech firm comes after Uber was forced to sell its China operation last year, and announced a merger with Yandex in Russia just this week.