Grab

S&P Global Ratings has on Thursday upgraded Singapore-based superapp Grab Holdings Ltd. to 'BB-' with stable outlook, as it foresees sustained positive earnings before interest, taxes, depreciation, and amortization (EBITDA) and cash flow for the firm.

Singapore-based superapp Grab announced Thursday that its revenue grew 17 percent year-over-year to $664 million in the second quarter of 2024, driven by revenue growth across all segments.

Chope is free to use and is available in seven cities: Singapore, Jakarta, Bali, Bangkok, Phuket, Hong Kong, and Shanghai.

Founded in 2013 and incorporated in the US in 2018, inDrive is available in over 749 cities across 46 countries today, information from its website showed.

Grab, a leading superapp in Southeast Asia, and OpenAI, an American artificial intelligence research organization, have on Thursday announced they will collaborate to build and deploy advanced artificial intelligence (AI) solutions that enrich the Grab experience for users, partners, and employees.

Singapore-based superapp Grab has reported higher revenue and lower operating loss in the first quarter amid improvement of all segments.

Tada is one of five ride-hailing platforms licensed by the Singapore Land Transport Authority over the past five years. It secured a ride-hailing licence from Thailand's Department of Land Transportation earlier this year.

Southeast Asia superapp Grab Holdings Limited has posted a profit of $11 million in the fourth quarter ended December 31, 2023, compared to a net loss of $391 million in the prior year period. The achievement was primarily due to the improvement in group adjusted EBITDA, fair value changes in investments, and lowered share-based compensation expenses.

GrabCar operates in 25 cities while GrabFood provides services to more than 100 cities nationwide, according to the report.

The news came after Bloomberg reported last week that the companies had restarted discussions for a merger.