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Explainer | Why is Singapore’s Grab different from ride-hailing giants Uber, Lyft and Didi?

  • Singapore’s ride-hailing and food delivery giant is expected to be the biggest listing ever by a Southeast Asian tech firm
  • Grab’s net cash used in operating activities, or cash burn, has shrunk since 2018

Reading Time:6 minutes
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A GrabBike driver in Indonesia in 2018. Grab is set to become the most valuable publicly listed technology company from Southeast Asia following a blockbuster merger with a special purpose acquisition company. Photo: AP
Alison Tudor-AckroydandChad Bray

Grab Holdings, Southeast Asia’s most valuable tech unicorn, is going public in New York following a blockbuster US$39.6 billion merger with a blank cheque company.

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The Singapore ride-hailing and food delivery company’s listing is expected to be the biggest listing ever by a tech company from Southeast Asia and an important bellwether for the region’s burgeoning technology sector. It is also the latest company to go public via a special purpose acquisition company (SPAC), the hottest fundraising trend globally since early last year.

As investors pore over its financials, they will draw parallels with US-listed ride-hailing companies Uber and Lyft and China’s Didi Chuxing, which has filed confidentially to float in New York. For food delivery, investors may cross-reference Amazon-backed Deliveroo, whose shares flopped on their March 31 debut on the London stock exchange.

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However, Grab offers a different proposition to investors with its super app housing all its daily services, combined with its footprint across the fast-growing economies of Southeast Asia.

Here’s what you need to know about Grab, the “everyday everything” app.

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