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grab, uber’s rival in southeast asia, pulls in strategic investment from hyundai


grab, uber’s closest rival in southeast asia, continues to slowly release information about its newest funding round after it revealed it has netted a strategic investment from hyundai.to recap, the singapore-based firm raised a massive $2 billion led by softbank and china’s didi chuxing last july with plans to extend the round by a further $500 million. back in august, it revealed that toyota was one contributor — via its next technology fund — and now the korean automaker has joined the party via a deal that, like toyota’s, is undisclosed.while not forthcoming on the size of the investment, grab said it plans to work with hyundai on a number of initiatives that will include a new service based around its electric vehicles. that will feature the ioniq electric, the model which hyundai use






uber rival grab nets strategic investment from toyota


uber’s asia-based rival grab has confirmed that it has taken an undisclosed investment from toyota.the japanese automotive giant has been named as one of the participants in grab’s series g round which is targeted at $2.5 billion. the singapore-headquartered company confirmed that softbank and china’s didi contributed $2 billion, but it is collecting an additional $500 million from other participants.there is a collaborative component to this deal with toyota, which is making the first investment from its next technology fund. the two will work closely to optimize the performance of toyota vehicles within grab’s driver platform.grab will share data on driving patterns from 100 toyota cars in grab’s fleet with toyota, who will then analyse the data captured and offer recommendations on how






is uber’s grip on southeast asia up for grab?


singapore—when uber technologies inc. retreated from china last year after conceding a costly battle with a local rival, the ride-hailing giant vowed to devote new resources to winning other lucrative markets in asia.since then, uber has suffered setbacks in southeast asia, a region of 600 million people, where it has been outflanked by another local player, grab inc., which is gobbling up market share. grab has expanded more rapidly, been more nimble in meeting local preferences, analysts say, and has forged better relations...






uber rival grab is reportedly raising up to $2 billion from softbank and didi


grab, the uber rival in southeast asia that operates across seven countries, is reportedly in talks to raise up to $2 billion from japan-based softbank and china-based didi chuxing, the wall street journal reports, citing sources. the funding would reportedly value grab at more than $5 billion, which would make it the most valuable startup in southeast asia.softbank is the telecom giant that has become known for investing in any ride-hailing company other than uber. softbank first invested in grab in 2014, with a $250 million investment. that investment came just a couple of months after softbank put $210 million into india’s ola ride-hailing startup. softbank also invested in 99, uber’s rival in brazil.the international ride-hailing market is heating up. last year, uber sold its china uni






alibaba is in talks to invest in uber’s southeast asia rival grab


alibaba could substantially increase its business interests in southeast asia with an investment in uber rival grab.bloomberg reports that alibaba president jack ma is considering joining an upcoming $1.4 billion funding round for grab which will be led by softbank, a company with many links to alibaba. separately, techcrunch has confirmed with a source that alibaba has held meetings with grab over a potential investment that could see alipay, the mobile payment service run by alibaba affiliate ant financial, integrated into the grab app. alibaba is apparently keen to have a closer relationship with grab’s ‘grabpay’ payment platform, too.grab declined to comment. alibaba did not respond to a request for comment.singapore-based grab’s most recent funding was a $750 million series f at a val






uber and grab are bringing southeast asia’s taxi on-demand war to myanmar


southeast asia’s ride-sharing war is spreading to a new frontier after rivals grab and uber revealed plans to expand into myanmar, the country also known as burma.singapore-based grab announced its launch in the country today, its first new market expansion for nearly three years, to take it to seven markets but its u.s. rival wasn’t going to sit in the corner quietly. digital ink barely dry on grab’s announcement, uber revealed that it too is moving into myanmar’s capital city yangon, albeit within a more ambiguous timeframe of “soon.”grab has initially launched its grabtaxi service that connects licensed taxis with consumers who can hail a ride using its mobile app. in other countries it offers services including private cars, motorbikes on-demand and carpooling, but this is a tentative






uber and grab are bringing southeast asia’s taxi on-demand war to myanmar


southeast asia’s ride-sharing war is spreading to a new frontier after rivals grab and uber revealed plans to expand into myanmar, the country also known as burma.singapore-based grab announced its launch in the country today, its first new market expansion for nearly three years, to take it to seven markets but its u.s. rival wasn’t going to sit in the corner quietly. digital ink barely dry on grab’s announcement, uber revealed that it too is moving into myanmar’s capital city yangon, albeit within a more ambiguous timeframe of “soon.”grab has initially launched its grabtaxi service that connects licensed taxis with consumers who can hail a ride using its mobile app. in other countries it offers services including private cars, motorbikes on-demand and carpooling, but this is a tentative






uber rival grab is opening r&d offices in india and vietnam


grab, the main rival to uber in southeast asia, is expanding its engineering footprint after announcing new development centers in india and vietnam.the company last month announced plans to open an engineering center in jakarta, indonesia, so the addition of bases in bangalore, india and ho chi minh city, vietnam, will take it to six r&d locations worldwide. the others are singapore, grab’s hq, beijing and an office in seattle which was opened last year.despite the new office plans, grab said it will not expand into india. the move is a bid to suck up new talent to fuel its rivalry with uber in southeast asia, a region of over 600 million consumers where the market for on-demand rides is tipped to grow from $2.5 billion in 2015 to $13.1 billion in 2025, according to a report co-authored b






uber rival grab expands its engineering team with new offices in india and vietn


grab, the main rival to uber in southeast asia, is expanding its engineering footprint after announcing new development centers in india and vietnam.the company last month announced plans to open an engineering center in jakarta, indonesia, so the addition of bases in bangalore, india and ho chi minh city, vietnam, will take it to six r&d locations worldwide. the others are singapore, grab’s hq, beijing and an office in seattle, which was opened last year.despite the new office plans, grab said it will not expand into india. the move is a bid to suck up new talent to fuel its rivalry with uber in southeast asia, a region of more than 600 million consumers where the market for on-demand rides is tipped to grow from $2.5 billion in 2015 to $13.1 billion in 2025, according to a report co-auth






uber rival grab expands its engineering team with new offices in india and vietn


grab, the main rival to uber in southeast asia, is expanding its engineering footprint after announcing new development centers in india and vietnam.the company last month announced plans to open an engineering center in jakarta, indonesia, so the addition of bases in bangalore, india and ho chi minh city, vietnam, will take it to six r&d locations worldwide. the others are singapore, grab’s hq, beijing and an office in seattle which was opened last year.despite the new office plans, grab said it will not expand into india. the move is a bid to suck up new talent to fuel its rivalry with uber in southeast asia, a region of over 600 million consumers where the market for on-demand rides is tipped to grow from $2.5 billion in 2015 to $13.1 billion in 2025, according to a report co-authored b






grab raises $700m in debt to add more drivers to its ride-hailing service in sou


grab is in the process of raising $2.5 billion for it ride hailing service in southeast asia, but that hasn’t stopped the uber rival from tapping banks for $700 million in debt facilities to develop its business.the singapore-based company said it had pulled in the financing from “leading global and regional banks” to expand its car rental fleet in singapore and indonesia, two of its key markets. this debt facility takes grab to over $4 billion in funding. it raised $2 billion from softbank and china’s didi in july, with $500 million set to be added by other backers soon.this new capital will be put to work purchasing vehicles which can then be provided to drivers on a leased basis. the overall aim is to use this flexible financing option to add drivers who can’t afford to buy cars to its






uber rival grab makes first major acquisition to build out its payments platform


grab, uber’s biggest rival in southeast asia, has completed its first major acquisition after it bought up indonesian startup kudo to boost its nascent mobile payments platform.neither party is giving a figure for the size of the deal, which was first rumored in february. initial reports at the time suggested grab would pay over $100 million for kudo, but two sources close to the company told techcrunch that price is significantly lower than that but it nonetheless represents a good exit for the company and its investors.grab’s only previous acquisition was little-known chinese ride-sharing startup youche back in 2013. that deal was done to form grab’s beijing office, which is one of it global engineering bases. this time around, grab is paying bigger money for a much more strategic deal.g






uber rival grab makes first major acquisition to build out its payments platform


grab, uber’s biggest rival in southeast asia, has completed its first major acquisition after it bought up indonesian startup kudo to boost its nascent mobile payments platform.neither party is giving a figure for the size of the deal, which was first rumored in february. initial reports at the time suggested grab would pay over $100 million for kudo, but two sources close to the company told techcrunch that price is significantly lower than that but it nonetheless represents a good exit for the company and its investors. the startup raised undisclosed seed and series a rounds from backers including gree ventures, 500 startups and east ventures, according to crunchbase.grab’s only previous acquisition was little-known chinese ride-sharing startup youche back in 2013. that deal was done to






uber doubles down on indonesia after hiring its first country president


as part of its new approach to asia, uber has announced a first president for its business in indonesia, southeast asia’s largest economy and the world’s fourth most populous country.monika rudijono will take up the role in january, joining from advertising and marketing firm grey where she had been presidential director. she’ll report directly to brooks entwistle, who joined uber in august to lead its asia pacific business minus india.uber previously opted for a presidential management structure in india, which is run separate to the rest of its asian operations.indonesia is an interesting market for uber for a number of reasons.a report from google and temasek estimates that indonesia will account for more than 40 percent of southeast asia’s ride-hailing industry, which is forecast to ju






uber doubles down on indonesia after hiring its first country president


as part of its new approach to asia, uber has announced a first president for its business in indonesia, southeast asia’s largest economy and the world’s fourth most populous country.monika rudijono will take up the role in january, joining from advertising and marketing firm grey where she had been presidential director. she’ll report directly to brooks entwistle, who joined uber in august to lead its asia pacific business minus india.uber previously opted for a presidential management structure in india, which is run separate to the rest of its asian operations.indonesia is an interesting market for uber for a number of reasons.a report from google and temasek estimates that indonesia will account for more than 40 percent of southeast asia’s ride-hailing industry, which is forecast to ju






uber rival grab finally fills its cto-sized hole with former googler


grab, uber’s chief rival in southeast asia, finally has a new cto more than two years after its previous one departed.today the company introduced theo vassilakis, a former googler who also spent time with microsoft, as its second ever cto. there were high hopes for the first, wei zhu, who helped create connect with facebook, but he left in 2015 after just a year and later sued over alleged unpaid earnings.grab is a different company now. for one thing, its valuation has leapt from $1 billion to $6 billion to make it the highest-valued tech startup in southeast asia. its business has swelled to over 1.8 million drivers and more than 60 million downloads making it (most likely) larger than uber but the fight is very much on.of particular interest to vassilakis: grab’s r&d division now spans






uber rival grab quietly backed dock-less bike service obike


grab, uber’s main rival in southeast asia, has made a move into dock-less bikes after the company quietly backed obike.singapore-based grab invested in obike — which was started in singapore by chinese founders and is present in 30 cities — as part of a $45 million series b round that was announced in august, a source with knowledge of the deal told techcrunch. grab’s name was not publicly announced at the time.obike previously declined to reveal the full spectrum of investors in the series a deal. the company did not respond to a fresh request for confirmation on grab’s involvement.a grab spokesperson declined to comment when contacted for confirmation of its investment in obike.while this deal is not as significant as grab’s recent $80-$100 million acquisition of indonesia-based startup






uber rival grab rolls out indonesia investment plan


southeast asian ride-hailing startup grabtaxi holdings pte. ltd. said it will invest $700 million in indonesia over the next four years, as it battles to win market share in the country from uber technologies inc. and homegrown startup pt go-jek indonesia.grab, backed by investors including japan’s softbank group corp., said thursday that the money will be used to develop a research center in jakarta and a $100 million investment...






uber rival grab introduces private bus service in southeast asia


tis the season for new ride-sharing services, it seems. a day after uber launched multi-trip bookings in india, its rival in southeast asia — grab — has introduced private buses.“grab coach” is initially available in singapore where it is aimed at large groups that would otherwise require multiple cars. there are three types of coaches: 13 seaters, 23 seaters and 40 seaters. each can be booked inside the grab app like its other services, while there’s also support for grab enterprise customers, too.grab, which has raised over $1 billion from investors including softbank and china’s didi chuxing, started out offering rides with licensed taxis that were paid for in cash only. over the past two years, it has branched out to provide private cars, car-pooling, motorbikes on-demand, logistics an






uber rival grab crosses 1 billion rides in southeast asia


grab, uber’s fierce rival in southeast asia, announced today that its service has crossed one billion completed rides.the firm hit the milestone on october 26 when 66 concurrent trips from across its seven markets took it into ten-figure territory .the company started out in malaysia in 2012, and today it covers 142 cities across singapore, malaysia, indonesia, thailand, vietnam, the philippines and myanmar. its initial service was booking licensed taxis, but it has since expanded to cover uber-style private hire, carpooling, motorbike taxis and more.grab is backed by the likes of softbank and didi in china — the two just invested $2 billion into the company — and its latest valuation of $6 billion makes it southeast asia’s highest valued tech company. on the business side, it claims over






uber enters myanmar with a licensed taxi service


uber has launched its service in myanmar, the southeast asian country formerly known as burma, over a month after going public with its expansion plan.with a population of 50 million people and rapidly increasing internet adoption, myanmar is seen by many tech firms as a market with much growth potential. grab, uber’s chief rival in southeast asia, entered the country’s capital yangon in march with a beta launch, but uber’s arrival in the city is notable because it comes with the backing of the national government. principally, that’s because the service will only work with licensed drivers, reuters reports, using the same model as grab.there’s plenty of logic behind that change of approach. even after operating in asia for four years, uber’s service sits in a grey area that sometimes sees






uber enters myanmar with a licensed taxi service


uber has launched its service in myanmar, the southeast asian country formerly known as burma, over a month after going public with its expansion plan.with a population of 50 million people and rapidly increasing internet adoption, myanmar is seen by many tech firms as a market with much growth potential. grab, uber’s chief rival in southeast asia, entered the country’s capital yangon in march with a beta launch, but uber’s arrival in the city is notable because it comes with the backing of the national government. principally, that’s because the service will only work with licensed drivers, reuters reports, using the same model as grab.there’s plenty of logic behind that change of approach. even after operating in asia for four years, uber’s service sits in a grey area that sometimes sees






grab, the uber rival in southeast asia, is now officially also a digital payment


grab is best known for rivaling uber in southeast asia, but today the company took a major step into becoming a fintech player, too.that’s because the ride-sharing firm, which recently raised $2 billion from softbank and china’s didi chuxing, rolled out support for its grabpay service among third-party merchants for the first time today.grab is present in seven markets across southeast asia, but the first merchants it is onboarding are street food sellers in singapore, where the firm is headquartered.this won’t change the game overnight for the company’s 50 million-plus users, but it is a sign of where grab is headed since it announced plans to develop a payments platform last year. it takes grabpay from being merely the system that enables you pay for a taxi using your credit (or pre-boug






uber rival grab makes first major acquisition to build out its payments platform


grab, uber’s biggest rival in southeast asia, has completed its first major acquisition after it bought up indonesian startup kudo to boost its nascent mobile payments platform.neither party is giving a figure for the size of the deal, which was first rumored in february. initial reports at the time suggested grab would pay over $100 million for kudo, but two sources close to the company told techcrunch that price is significantly lower than that but it nonetheless represents a good exit for the company and its investors.update: techcrunch has since learned that the deal is a mix of cash and equity. it is potentially worth $80 million-$100 million in total, according to one source with knowledge of the deal.the startup raised undisclosed seed and series a rounds from backers including gree






uber rival grab makes first major acquisition to build out its payments platform


grab, uber’s biggest rival in southeast asia, has completed its first major acquisition after it bought up indonesian startup kudo to boost its nascent mobile payments platform.neither party is giving a figure for the size of the deal, which was first rumored in february. initial reports at the time suggested grab would pay over $100 million for kudo, but two sources close to the company told techcrunch that price is significantly lower than that but it nonetheless represents a good exit for the company and its investors.update: techcrunch has since learned that the deal is a mix of cash and equity. it is potentially worth $80 million-$100 million in total, according to one source with knowledge of the deal.the startup raised undisclosed seed and series a rounds from backers including gree






uber inks its first mobile wallet deal in southeast asia


seeking to rise to increased competition, uber has inked its first payments deal in southeast asia after it announced a partnership with vietnam-based mobile wallet service momo.momo, which raised $28 million led by standard chartered last year, will become a payment option inside the uber app in vietnam, alongside cash and credit cards. the app is the country’s top mobile payment service. it is used by five million people to pay bills, transport tickets and more so an alignment with uber makes sense.the rollout will be gradual with an initial 30 percent of uber’s android app users getting the option to pay via momo as of today. that will extend to all android users over the next month, with ios — which trails android significantly on marketshare in vietnam — to come later.uber said vietna






uber rival grab quietly backed dock-less bike service obike


grab, uber’s main rival in southeast asia, has made a move into dock-less bikes after the company quietly backed obike.singapore-based grab invested in obike — which was started in singapore by chinese founders and is present in 30 cities — as part of a $45 million series b round that was announced in august, a source with knowledge of the deal told techcrunch. grab’s name was not publicly announced at the time.obike previously declined to reveal the full spectrum of investors in the series a deal. the company declined to comment in response to a fresh request for confirmation of grab’s involvement.a grab spokesperson declined to comment when contacted for confirmation of its investment in obike.while this deal is not as significant as grab’s recent $80-$100 million acquisition of indonesi






uber rival grab in talks for up to $2 billion from softbank, china’s didi


shanghai—uber technologies inc.’s biggest rival in southeast asia is poised to get a huge cash injection that could help it battle the san francisco ride-hailing company in its home region.singapore-based grabtaxi holdings pte is raising as much as $2 billion from japan’s softbank group corp. and chinese ride-hailing company didi chuxing technology co., people familiar with the matter said.the deal could be completed in the...






uber rival grab hits the road in myanmar


grabtaxi holdings pte., a top southeast asian ride-sharing startup, started service in myanmar on tuesday, hoping for an edge in its race to reach new areas ahead of its american rival uber technologies inc.since launching in malaysia in 2012, singapore-based grab has expanded rapidly and now has more than 600,000 drivers in 35 cities in indonesia, singapore, malaysia, thailand, vietnam and the philippines. it is backed by investors...






uber agreed to, then scrapped, a non-compete deal with indonesian unicorn go-jek


uber may have a reputation for steamrolling its competitors, but it can be conciliatory at times. in 2015, a year before its retreat from china via the sale of its chinese business to rival didi, the u.s. company agreed to a non-compete deal with go-jek, a fast-growing on-demand service from indonesia that’s valued at over $1 billion, techcrunch has learned.in a bid to strengthen their collective battle against grab, the singapore-based firm represent in six countries, the two companies floated a collaboration that would ensure they didn’t compete directly in indonesia, the largest economy in southeast asia, according to a person who was involved in discussions. in practical terms, it meant uber would stick to offering private cars in the country, while go-jek would focus only on two-wheel






uber’s asian rival grab loses its head of engineering


grab may be in the process of raising a huge $2.5 billion investment round, with softbank, didi and toyota confirmed as participants, but uber’s southeast asia-based rival has lost its head of engineering.arul kumaravel, vp of engineering at grab, has left the company for personal reasons, according to a source. it’s not yet clear what his next plan is. grab confirmed the departure.kumaravel joined grab’s singapore office from amazon, where he had been head of mobile development, in april 2015. he assumed the role as head of tech at grab in august of that year following the departure then-cto wei zhu, a former facebook engineer who lasted just over a year in his role.grab said it has promoted “long-standing engineers as heads of engineering” to fill the gap, with raman narayanan, a veteran






uber agreed to, then scrapped, a non-compete deal with indonesian unicorn go-jek


uber may have a reputation for steamrolling its competitors, but it can be conciliatory at times. in 2015, a year before its retreat from china via the sale of its chinese business to rival didi, the u.s. company agreed to a non-compete deal with go-jek, a fast-growing on-demand service from indonesia that’s valued at over $1 billion, techcrunch has learned.in a bid to strengthen their collective battle against grab, the singapore-based firm represent in six countries, the two companies floated a collaboration that would ensure they didn’t compete directly in indonesia, the largest economy in southeast asia, according to a person who was involved in discussions. in practical terms, it meant uber would stick to offering taxis and private cars in the country, while go-jek would focus only on






uber agreed to, then scrapped, a non-compete deal with indonesian unicorn go-jek


uber may have a reputation for steamrolling its competitors, but it been conciliatory at times. in 2015, a year before its retreat from china via the sale of its chinese business to rival didi, the u.s. company agreed to a non-compete deal with go-jek, a fast-growing on-demand service from indonesia that’s valued at over $1 billion, techcrunch has learned.in a bid to strengthen their collective battle against grab, the singapore-based firm represent in six countries, the two companies floated a collaboration that would ensure they didn’t compete directly in indonesia, the largest economy in southeast asia, according to a person who was involved in discussions. in practical terms, it meant uber would stick to offering taxis and private cars in the country, while go-jek would focus only on t






grab is buying indonesian payment firm kudo in its first major acquisition


uber’s southeast asia rival grab is in the process of buying up indonesia-based online payment startup kudo in its first major acquisition.a source close to discussions confirmed to techcrunch that talks are ongoing and a deal could be announced as soon this week. reuters first reported the deal, which it said would be over $100 million however our source suggested that the figure is in fact lower.grab declined to comment on the report.grab’s only previous acquisition was little-known chinese ride-sharing startup youche back in 2013. that deal was done to form grab’s beijing office, which is one of it global engineering bases. this time around, grab is paying bigger money for a much more strategic deal.$3 billion-valued grab recently pledged to spend $700 million in investment in indonesia






uber signs partnership with vietnam’s leading e-wallet


hanoi, vietnam (ap) — u.s uber technologies inc. on wednesday signed a deal with momo, vietnam’s leading financial technology firm, enabling uber riders to pay for trips using momo’s e-wallets in a country where most transactions are done in cash.the partnership is uber’s first deal with a fin-tech company in southeast asia. it aims to catch up with regional rival grab, which has its own e-wallet service.backed by standard chartered bank and goldman sachs, momo has 5 million users vietnam who use its e-wallet to pay utility bills, buy plane tickets and do online shopping.brooks entwistle, uber’s chief business officer in the asia pacific, said he expects the partnership to help the two companies grow and to change vietnam’s cash-dominated economy.most read storiesunlimited digital access.






grab is assisting police following the alleged rape of a passenger in malaysia


uber’s business is going through a period of turmoil in the u.s. right now, but grab — its main rival in southeast asia — is under pressure itself after a driver in malaysia was arrested on suspicion of raping a passenger he drove home via the ride-hailing service.media in malaysia, the country where grab originated, report that police have reprimanded a 30-year-old man for six days after a woman reported that she was raped around 4am on sunday near her house in seri kembangan, selangor state. according to a police statement disseminated to press, the victim did not put up a fight because she was drunk. the driver was part of the grabcar private car service, which is comparable to uber x.grab confirmed it has removed the driver from its platform. it told techcrunch that it is cooperating w






grab is assisting police following the alleged rape of a passenger in malaysia


uber’s business is going through a period of turmoil in the u.s. right now, but grab — its main rival in southeast asia — is under pressure itself after a driver in malaysia was arrested on suspicion of raping a passenger he drove home via the ride-hailing service.media in malaysia, the country were grab originated, report that police have reprimanded a 30-year-old man for six days after a woman reported that she was raped around 4am on sunday near her house in seri kembangan, selangor state. according to a police statement disseminated to press, the victim did not put up a fight because she was drunk. the driver was part of the grabcar private car service, which is comparable to uber x.grab confirmed it has removed the driver from its platform. it told techcrunch that it is cooperating wi