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Home / Business / The value of Grab is $ 14 billion after SoftBank has received a substantial cash boost

The value of Grab is $ 14 billion after SoftBank has received a substantial cash boost



Singaporean-based Startup Grab said Wednesday it plans to use the money to add more services to its app, going well beyond mere hailing. It is also planned to invest in Indonesia, where it aggressively competes against its smaller competitor GoJek.

The Latest Financing Values ​​It is estimated that about 14 billion dollars would be available to a person familiar with the company. This equates to a valuation of $ 11 billion last year.
Softbanks ( SFTBF ) The $ 100 billion Vision Fund fund is already a major investor in Grab and other major companies that engage in the ride Uber. The Saudi-funded fund is led by Masa Son, the founder and CEO of SoftBank, and has become a major player in the global tech industry.

A spokeswoman for Grab declined to comment on what percentage of the company's stock the Vision Fund now owns. SoftBank did not respond to a request.

  A GrabBike rider in Jakarta. Grab a lot of money to upgrade the business in Indonesia.

GoJek Defense

Since evicting Uber from Southeast Asia last year, Grab has stepped up its competition with regional rivals such as GoJek, headquartered in Indonesia. GoJek launched at Grab & # 39; s home in Singapore last year.

Both companies have evolved beyond the ride, trying to create irreplaceable "super apps" that offer everything from food delivery to financial services.

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"A Substantial Part" of New Media invest in Indonesia to increase the on-demand platform for car and motorcycle services and food provisioning.

It will also use the new money to provide its users across Southeast Asia with new services such as video, insurance and hotel bookings on demand.

In the eight countries of the region where the company operates, Grab dominates the industry. In an interview with CNN Business in December, Grab President Ming Maa said the company expects to double its revenue to $ 2 billion this year.
While other big companies like Lyft and Uber have taken steps to go public this year, Grab has no plans for going public, Maa said back then.

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