July 25, 2017

Uber Rival Grab Said to Be Raising $2 Billion From SoftBank, China’s Didi



Grab Logo
By Grab (Grab official website) [Public domain], via Wikimedia Commons

Grab, Uber Technologies’s biggest rival in Southeast Asia, is raising as much as $2 billion in funding from Japan’s SoftBank Group and China’s top ride-hailing firm Didi Chuxing , the Wall Street Journal reported on Friday.

The deal, which could close in the next few weeks, would value Singapore-based Grab at more than $5 billion, the Journal reported , citing people familiar with the matter.

The reported funding comes amid efforts by Grab to transform into a consumer technology firm that also offers loans, electronic money transfer and money-market funds.

Grab declined to comment, […]

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The News for the Gig Economy Staff is constantly searching the web for the latest news regarding freelancing and gig platforms to bring them to you in one handy place. All articles with this generic author have been sourced with the original location at the bottom of the piece. We encourage our readers to view the original source of all excerpts. NGE is a project of ARC Online, LLC.

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