Grab Holdings Inc. is a Singaporean multinational technology company headquartered in one-north, Singapore. It is the developer of a super-app for ride-hailing, food delivery, and digital payment services on mobile devices. It operates in Singapore, Malaysia, Cambodia, Indonesia, Myanmar, the Philippines, Thailand, and Vietnam.
The company was founded as MyTeksi by Anthony Tan and Tan Hooi Ling in 2012 to make taxi rides safer in Malaysia. By 2016, it was rebranded as Grab with an expansion of partnerships in Southeast Asia that coincided with the development of products for couriers.
Grab is Southeast Asia's first decacorn[7][8] and the biggest technology startup in the region.[9] It became publicly traded on the NASDAQ in 2021, following the largest SPAC merger at the time.[10] In 2023, Fast Company listed Grab amongst the most innovative companies in the Asia-Pacific region.[11]
History
Founding and growth
The idea of creating a taxi-booking mobile app for Southeast Asia came from Anthony Tan [12] while he was at Harvard Business School. He launched the MyTeksi app in Malaysia in 2012 together with Tan Hooi Ling, another Harvard graduate. MyTeksi was started with an initial grant of US$25,000 from Harvard Business School and Tan's personal capital.[13][14]
GrabTaxi expanded to the Philippines in August 2013, and to Singapore and Thailand in October of the same year.[15] In 2014, GrabTaxi further continued its growth and expansion to new countries: first launching in Ho Chi Minh City, Vietnam, in February, and Jakarta in Indonesia in June.[16]
Funding
Kee Lock Chua, a Managing Partner at Vertex Ventures Southeast Asia and India, was an early investor in Grab. He invested US$11.2m in Grab, and exited the investment in 2019.[65]
Grab's investors include venture and hedge funds, automobile companies and other ride-hailing firms. Investors include Japan's Softbank Group and MUFG, Booking Holdings, Toyota and Microsoft.[66] The company has completed Series A through Series H funding, totaling billions of dollars.[67]
In January 2021, Grab Financial Group, the company's financial services unit, raised more than $300 million from South Korea's Hanwha Asset Management.[68][69]
Partnerships
The company partnered with Microsoft to help people in Southeast Asia to access digital literacy programs and certificates in September 2019.[70] In December 2019, Grab and Mastercard launched the first numberless payment card in Asia, which was discontinued on 1 June 2024.[71][72]
Marriott International partnered with Grab to cover about 600 restaurants and bars in Singapore, Indonesia, Malaysia, the Philippines, Vietnam and Thailand which would be added to the GrabFood delivery platform.[73]
The A.S. Watson Group began partnering with Grab at the beginning of 2021 to expand in Southeast Asia.[74]
Driver issues
On 23 September 2016, a female passenger in Singapore was sexually assaulted by an elderly GrabCar driver after she fell asleep during the ride.[81] The driver was jailed for 16 months the following year.[82] On 25 March 2017, a female passenger in Singapore was assaulted by a Grab driver.[83] The driver was subsequently suspended by his taxi company from call bookings, although he was still allowed to pick up passengers on the streets.[84] In May, a GrabCar driver in Chiang Mai, Thailand was arrested for sexual assault.[85] In response, Grab issued a statement and said it "would not tolerate physical violence or verbal abuse".[86]
Regulation
In the Philippines, GrabCar was fully legalised after being accredited as a Transportation Network Company (TNC) by the Land Transportation Franchising and Regulatory Board (LTFRB) in 2015.[100] In 2016, Grab motorbike taxi services of Grab and Uber were suspended on claims the services are breaking local rules and clashing with registered transport companies.[101] Further crackdown on the services was continued in early 2017 when a Thai transport official asked the government to ban them although little efforts being done as both services have gain popularity among Thais and foreign visitors in the country.[102] In 2019, it was reported that the Thai government is taking steps to legalise Grab taxi services.[103] In 2021, the Thai government approved a draft ministerial regulation, allowing Grab to operate taxi services legally in the area. The regulation allows for vehicles containing up to seven seats which were registered as personal cars to also be used as taxis.[104]
See also
External links
References
- Grab Reports Fourth Quarter and Full Year 2024 Results investors.grab.com, Grab Holdings Ltd, retrieved 23 October 2025^
- Janet Ong. Grab officially opens Singapore HQ, launches US$1m scholarship programme sg.finance.yahoo.com, 11 August 2022, retrieved 12 August 2022^
- Grab to acquire Malaysian supermarket chain Jaya Grocer