Grab
Singapore-headquartered, Nasdaq-listed company whose app offers deliveries, ride-hailing and financial services in more than 900 cities across eight Southeast Asian countries. It reported its first full-year profit in 2025.
Industry: Super app: deliveries, mobility and digital financial services | Location: Singapore, Singapore | Founded: 2012
About Grab
Grab is a Southeast Asian technology company that runs a consumer app covering food and grocery deliveries, ride-hailing and other mobility services, and digital financial services. It operates in eight countries: Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. The company is headquartered at one-north in Singapore and its Class A shares trade on Nasdaq under the ticker GRAB. The business began in 2012 as MyTeksi, a taxi-booking app aimed at making rides safer in Malaysia. It was started by Anthony Tan and Tan Hooi Ling, who had been classmates at Harvard Business School. The idea took shape in a 2011 business venture competition at the school, where the pair won second place and US$25,000 in prize money. By 2016 the service had been rebranded as Grab and had broadened its partnerships across Southeast Asia, adding products for couriers alongside passenger transport. GrabPay, its cashless payments product, also dates from around 2016, according to secondary accounts. In March 2018 Grab announced that it had taken over Uber's operations and assets in the eight Southeast Asian markets where both companies were active. In return Uber received a 27.5% stake in Grab, and Uber chief executive Dara Khosrowshahi joined the Grab board. The company described the transaction as the largest deal of its kind in the region. Grab became a publicly traded company in 2021 through a merger with the special purpose acquisition company Altimeter Growth Corp, which at the time was described as the largest SPAC merger on record. Anthony Tan serves as chairman and chief executive. Grab has also moved into banking. Reports indicate it secured digital bank licences in Singapore, Malaysia and Indonesia between 2022 and 2024, including the Singapore venture GXS Bank. For 2025, Grab reported its first full-year net profit, of about US$200 million, compared with a net loss of US$158 million in 2024. Revenue rose 20% to a record of about US$3.37 billion. Average monthly transacting users reached 47.2 million for the year, up 14% from 41.3 million in 2024, with deliveries at 25.4 million and mobility at 29.7 million. Management said the platform passed 50 million monthly transacting users during the fourth quarter. Fourth-quarter revenue was US$906 million, up 19% from a year earlier. Grab guided to 2026 revenue of US$4.04 billion to US$4.10 billion and announced a share buyback plan of up to US$500 million.
Leadership
- Anthony Tan, Co-founder and Group Chief Executive Officer
- Tan Hooi Ling, Co-founder
- Peter Oey, Chief Financial Officer