TIMELINE-Southeast Asia's Grab takes a ride to $40 bln SPAC listing
Southeast Asian ride-hailing and food delivery platform Grab Holdings lists on Nasdaq via the world's largest special purpose acquisition company (SPAC) deal worth $40 billion.
Here are some milestones for the Singapore-headquartered company: 2011: Anthony Tan and co-founder Tan Hooi Ling create Grab in a Harvard Business School venture competition plan
2012: Launches as MyTeksi taxi booking service in Malaysia 2013: Expands to the Philippines, Thailand, Singapore as GrabTaxi
April 2014: Announces Series A funding June 2014: Launches in Indonesia
December 2014: Japan's SoftBank invests $250 million in a funding round August 2015: Becomes a unicorn after $350 million funding round
December 2015: Announces a strategic partnership with other ride-hailing companies Ola, Didi, and Lyft that competed against Uber January 2016: Rebrands to Grab from GrabTaxi to reflect expanding services
November 2017: Launches GrabPay payments service for third-party transactions March 2018: Announces acquisition of Uber's business in Southeast Asia through an all-share deal, Uber becomes a strategic shareholder
May 2018: Pilots GrabFood delivery service July 2018: Unveils "super app" strategy that provides a range of services under one platform
March 2019: Reaches valuation of about $14 billion December 2020: Wins digital full bank license in Singapore in a partnership with Singapore Telecommunications Ltd
April 2021: Agrees to list on Nasdaq through a merger with special-purpose acquisition company Altimeter Growth Corp securing a valuation of nearly $40 billion
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
Thailand yet to decide on indicting ex-PM Thaksin in royal insult case
Thailand yet to decide on indicting ex-PM Thaksin in royal insult case, lawyer says
Thailand has yet to decide on indicting ex-PM Thaksin in royal insult case
Thailand says it has asked Myanmar junta to reduce violence
Exodus to Thailand continues after fall of key Myanmar border town