Grab has just announced (Mar 26) that it has acquired Uber’s South East Asian operations, confirming speculations of the merger.
The ground-breaking deal will result in Grab’s take over Uber’s operations and assets in Singapore, Malaysia, Cambodia, Indonesia, Myanmar, the Philippines, Thailand and Vietnam.
Uber will also acquire 27.5% of Grab’s stake and Uber CEO Dara Khosrowshahi will join Grab’s board.
With the increase in resources, Grab will also push to expand Grabfood into major Southeast Asian markets by this year.
The success of Grab is something that all Singaporeans can be proud of.
Co-founded by 34 year-old Singaporean Tan Hooi Ling, Grab is a home-grown company that has become the most exciting tech start-up in the region.
While Hooi Ling is less well-known as face of the company, Anthony Tan, she is just as important in the company’s genesis.
Quiet and brilliant, Tan came from a humble middle-class background.
With spectacular grades in JC, she studied Mechanical Engineering in Bath University in UK, and went on the study at Harvard Business School, where she met co-founder Anthony Tan.
She is definitely an inspiration to Singaporeans young and old.