Grab

Grab Holdings, the largest ride-hailing and food delivery firm in Southeast Asia, on Thursday (Mar 3) reported a fall in revenue for the fourth quarter as ...

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SINGAPORE (BLOOMBERG, REUTERS) - Grab Holdings, South-east Asia's No. 1 ride-hailing and delivery company, reported a loss that almost doubled from a year ...

Its total spending on incentives more than doubled to US$583.5 million in the fourth quarter. As the pandemic has weighed on ride-hailing demand, Grab has expanded its food delivery business to drive user growth. But among Grab's challenges is intensifying competition, including from Sea, the region's biggest Internet company. In all of 2021, its loss widened to US$3.4 billion from US$2.6 billion the previous year. Grab has racked up losses since its founding and has yet to prove it can reach profitability. Since its debut, the stock has sunk 63 per cent, placing it among the Nasdaq Composite Index’s worst performers over that stretch.

Grab Holdings Inc., Southeast Asia's ride-hailing and delivery giant, reported a wider loss after the company spent more on incentives to lure drivers and ...

Revenue fell 44% to $122 million, affected by the incentives offered to users and drivers. The Singapore-based company’s net loss almost doubled to $1.1 billion for the quarter ended Dec. 31, also hurt by non-cash interest costs and expenses related to its public listing, it said on Thursday. Analysts estimated a loss of $645 million on average.