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MariaSharpie

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Grab, the ride-hailing service that struck a deal to take Uber  out of Southeast Asia, has announced that it has pulled in $2 billion in new capital as it seeks to go beyond ride-hailing to offer more on-demand services.

The $2 billion figure includes a $1 billion investment from Toyota which was announced in June, and it sees a whole host of institutional investors join the Grab party. Some of those names include OppenheimerFunds, Ping An Capital, Mirae Asset — Naver Asia Growth Fund, Cinda Sino-Rock Investment Management Company, All-Stars Investment, Vulcan Capital, Lightspeed Venture Partners and Macquarie Capital.

Grab confirmed that the round is still open, so we can expect that it’ll add more investors and figures to this deal.

The deal values Grab at $11 billion post-money, which is the same as the $10 billion valuation it earned following the Toyota  deal. The caliber of investors certainly suggests an IPO is on the cards soon — not that it ever hasn’t been — although the company didn’t comment directly on that when we asked.

More at https://www.prolificskins.com/forum/current-affairs/grab-picks-up-2-billion-more-to-fuel-growth-in-post-uber-southeast-asia