Grab
Grab reports lower losses in second quarter as revenue jumps
Singapore-based super app Grab Holdings Limited has reported lower losses in the second quarter amid higher revenue. The loss for the the group was $148 million in the quarter, a 74 percent improvement year on year, primarily due to the improvement in group adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) and a reduction in…
Grab could achieve adjusted EBITDA breakeven in 3Q following layoff exercise, say CGS-CIMB analysts
“Layoff exercise in June leads us to believe Grab can achieve adjusted EBITDA breakeven in 3Q23F (forecast), one quarter ahead of guidance,” CGS-CIMB analysts Ong Khang Chuen and Kenneth Tan wrote in a research note on Thursday.
Grab acquires Singapore’s third largest taxi operator Trans-cab through its GrabRentals arm
Grab Holdings Limited and Trans-cab Holdings Ltd have on Thursday announced the signing of an agreement for Grab Rentals Pte. Ltd. to acquire 100 percent of the shares in Trans-cab. Trans-cab has a combined taxi and private-hire-vehicle (PHV) fleet of more than 2,500 vehicles, and is accretive on a net income basis to Grab’s business.
GrabAds launches ‘Marketing Manager’ to help MSMEs in Southeast Asia to spur sales
GrabAds, the advertising arm of Southeast Asian superapp Grab, has launched Marketing Manager - a web-based marketing platform that gives small and medium-sized businesses full control and more robust capabilities to design and expand marketing campaigns that drive more sales on Grab.
Singapore’s Grab cuts 1,000 jobs to manage costs and stay competitive, says CEO
Grab's Anthony Tan said with or without the exercise, Grab is on track to hit group Adjusted EBITDA breakeven this year.
Grab plans biggest job-cut round since pandemic – report
Last month, Grab said it is ‘on track’ to achieve breakeven by the fourth quarter after its losses narrowed in the first quarter.
Capital A plans to launch ride-hailing in the Philippines challenging Grab – report
Capital A, previously known as AirAsia Group, has been aggressively building its digital businesses and super app over the last three years as most of its planes were grounded due to travel restrictions to contain the COVID-19 pandemic. The group has hoped to build its super app, modeling regional tech giants such as Grab’s and Gojek’s super apps which…
Grab co-founder Tan Hooi Ling to step down from official positions by year-end
Grab Holdings Limited has on Thursday announced that Tan Hooi Ling has informed its board of directors of her intention to step down from her operating roles at Grab, including her directorship, by the end of 2023.
Grab says ‘on track’ to achieve breakeven by 4Q after losses narrow in 1Q
Grab, the Singapore-based super app, is on track to achieve breakeven by the fourth quarter after its losses narrowed in the first quarter. It has revised up its full year adjusted EBITDA guidance range by $80 million to $90 million.
Grab launches new features for Southeast Asia travellers
Grab, Southeast Asia’s leading superapp, has on Monday announced new in-app travel innovations and partnerships to give travellers a safe, seamless and hyperlocal experience as Southeast Asia embraces a travel comeback.
