Tag: Grab

Grab Eyes More Funds After Raising $1 Billion for Indonesia Expansion

Grab Eyes More Funds After Raising $1 Billion for Indonesia Expansion

By Motoring, News, Technology and Telecommunications 0 comments

Grab announced last Thursday that it was able to raise $1 billion in new funding for its foray into the Indonesian market which is considered to be an emerging battleground for tech firms looking to capture a population of over 250 million.   The Singapore-based ride-hailing giant says it is looking to raise more funds, but did not specify how much. President Ming Maa added that the firm was seeing significant demand from investors globally, both financially and strategically. The firm, which is transforming itself into a consumer technology group, says that the fresh funds will be used to expand […]

Grab Challenges Singapore Watchdog’s Assessment of Uber Buyout

Grab Challenges Singapore Watchdog’s Assessment of Uber Buyout

By News, Technology and Telecommunications 0 comments

Grab said last Friday that it disagrees with the Competition and Consumer Commission of Singapore’s assessment of its takeover deal with Uber, calling the watchdog’s decision a “double standard that goes against the spirit of increasing choices for drivers and riders.” The CCCS said in July that the Grab-Uber deal had harmed competition and pushed for the sale of Grab’s car-leasing businesses, as well as removing exclusivity obligations on drivers who use Grab’s ride-hailing platform. The antitrust body also proposed penalties for both firms. It is said that watchdog’s final decision could set a precedent that may affect other markets […]

Singapore Wants Fines for Grab, Uber for Harming Competition

Singapore Wants Fines for Grab, Uber for Harming Competition

By Motoring, News, Technology and Telecommunications 0 comments

The Competition and Consumer Commission of Singapore (CCCS) revealed this week that it wants to fine Grab and Uber, saying that the merger of the two ride-hailing firms resulted in reduced competition. The CCCS proposed several remedies, such as the sale of their car-leasing business. However, the reversal of the merger, should both companies not be able to fulfill the remedies, may no longer be an option as Uber had already exited the market. The commission said last Thursday that Uber and Grab need to be penalized since they carried out the deal despite knowing the anticipated potential competition concerns. […]

Toyota Pumps $1 Billion Investment Into Grab

Toyota Pumps $1 Billion Investment Into Grab

By M&A, Investment, and Securities, Motoring, News, Technology and Telecommunications 0 comments

Southeast-Asian ride-hailing firm Grab announced this week that it will be getting $1 million in fresh investment from Japan’s Toyota Motors to expand their partnership and explore new strategies for the region. It was also revealed that a Toyota executive will be appointed to Grab’s board of directors and a team member will be elevated to an executive position in the Singapore-based company. Grab adds that the investment will allow Toyota to integrate services such as user-based insurance and predictive maintenance with them which may serve as an incentive for drivers to drive more safely to to lower their insurance […]

Vietnam Mulls Formal Antitrust Investigation Into Grab-Uber Deal

Vietnam Mulls Formal Antitrust Investigation Into Grab-Uber Deal

By M&A, Investment, and Securities, Motoring, News, Technology and Telecommunications 0 comments

Last Wednesday, Vietnam’s trade ministry said that it may launch a formal investigation into Grab’s acquisition of Uber’s Southeast Asia business, stressing that the transaction could be blocked since an initial probe found that the combined market share of both ride-hailing firms in Vietnam was over 50% percent, as per the nation’s law. It is unclear what kind of impact Vietnam’s move will have on the deal, which is already being scrutinized by other countries such as Singapore, the Philippines, and Malaysia. However, lawyers and analysts say that there is little that can be done to stop Uber from leaving […]

Grab Rolls Out 100-Rehab Plan for Drivers, Services

Grab Rolls Out 100-Rehab Plan for Drivers, Services

By Motoring, News 0 comments

Grab Philippines marketing head Cindy Toh revealed last Tuesday the company’s 100 day plan to improve driver behavior and rider experience which is aimed to address the increasing number of complaints and cancellations by its partner-drivers. Toh said that the last six weeks had been very difficult for the company as its acquisition of Uber led to an increase in demand along with a reduction in supply of drivers. She additionally revealed that their drivers will be undergoing “intensive transformation programs” to make them examples of road courtesy and public service. The company said that it will be offering an […]

Grab Philippines Eyes Cancellation Fees for Riders

Grab Philippines Eyes Cancellation Fees for Riders

By Motoring, News, Technology and Telecommunications 0 comments

In a media briefing last Tuesday, Grab Philippines marketing head Cindy Toh revealed that the company is considering a cancellation fee for riders that may be rolled out within the next 100 days. Toh said that the solution, which was similar to what Uber had, was prompted by their data which showed that around 12% of riders cancel their rides, as opposed to 8% of drivers. However, Grab says it has yet to determine how much the fee will be, and how to implement it for riders who pay in cash. Source: Rappler

India’s Ride-Hailing Jugnoo to Enter Singapore Next Month

India’s Ride-Hailing Jugnoo to Enter Singapore Next Month

By Motoring, News 0 comments

Jugnoo’s chief executive Samar Singla said last Wednesday that the firm is looking to occupy the gap left by Uber in Singapore as soon as next month. The Indian ride-hailing company will be offering a private car-based service in the city-state with its app that allows riders to choose from drivers’ competing bids on fares. Once it enters the market, Jugnoo will take a 10% commission from drivers only after operating for 6 months. It was noted that even though there is a low entry barrier for ride-hailing companies in Southeast Asia, the entrants will need to scale quickly to […]

Grab Restricts Drivers from Seeing Passenger Destination

Grab Restricts Drivers from Seeing Passenger Destination

By Motoring, News, Software 0 comments

Grab Philippines said this week that its drivers will no longer be able to see the destinations of their passengers, a move meant to address the increasing number of complaints filed by riders after the ride-hailing company’s acquisition of Uber. Grab revealed that destination masking will initially be rolled out to 25% of drivers who have a historically low acceptance rate. An auto-accept driver-app feature which automatically books a rider to a driver will also be fully rolled out by Friday. The company however clarified that drivers will still be given the option to see the rider’s destination during wee […]

LTFRB Gives Go Signal to GoLag Ride Hailing App

LTFRB Gives Go Signal to GoLag Ride Hailing App

By Motoring 0 comments

The Land Transportation Franchising and Regulatory Board (LTFRB) had reportedly allowed another ride-hailing app named GoLag to operate in the country for two years, having released its accreditation papers last Friday. GoLag is the third TNC to have recently received the go signal from the transportation authority, along with Hype and HirNa. The three will be providing competition, allaying fears of a monopoly by Grab which had bought out Uber last month. The Singaporean-ride hailing firm is currently being pressured by the LTFRB for allegedly raising its rates to Php 2 per minute. Source: CNN Philippines

1 2 3