Nasdaq welcomed Southeast Asia’s leading super app Grab
Nasdaq listed Southeast Asia's leading super application Grab, which opened up to public via special purpose acquisition company (SPAC) Altimeter Growth Corp. (AGC), including $4.5 billion for raising support for Grab and turning into the biggest SPAC blend outside of the U.S. Established as a ride-hailing service, Grab has advanced into a state of the art innovation company offering not just food delivery, but mobile payment and fintech, telemedicine, ride-sharing services, etc.
Grab, which has a $40 billion market cap, joins a broad rundown of record-breaking listings this year on Nasdaq, including the largest initial public offering (IPO), with Rivian (RIVN), and the largest direct listing with Coinbase (COIN).
Grab celebrated going public with a remote bell-ringing ceremony in Singapore, Nasdaq’s first in Southeast Asia. Grab CEO and Co-founder Anthony Tan hopes Grab will bring more attention to the Southeast Asian market, an area he believes is ripe for opportunity.
“We truly believe this is Southeast Asia’s time to shine, and we hope that our entrance into the global public market will help bring greater attention to the tremendous opportunity here in the region,” said Tan.
Grab's excursion to one of the most esteemed companies in all of Southeast Asia began with making the taxi services more straightforward more secure in Malaysia. Prior to Grab, Malaysia was famous for unlicensed taxis cheating for their rides. The application, first named MyTeksi, permitted suburbanites and sightseers to carefully demand a taxi as opposed to flagging down one. Presently, Grab works in eight countries across Southeast Asia.
However, even with its grand achievements, Grab remains grounded in its main goal to serve the Southeast Asians and set the area up for life of worldwide business.
“Our calling remains the same - to unlock greater opportunity for all Southeast Asians to participate in the digital economy,” said Tan.
This methodology is vital to Grab's proceeded with progress. At the point when COVID-19 isolated the majority of the world, road sellers, which make up the greater part of the food market in Southeast Asia, were viably out of a task. In 2020, Grab carried 600,000 private ventures online with their application, carrying delectable food to local people and keeping the road markets alive.
“Our evolution into a super app was guided by the everyday problems we wanted to solve for the people we care about,” said Tan.
Going ahead, Grab will keep on making helpful and creative innovation that serves Southeast Asian people group. One year from now, it intends to dispatch an advanced bank in Singapore and a planning administration.
Grab celebrated going public with a remote bell-ringing ceremony in Singapore, Nasdaq’s first in Southeast Asia. Grab CEO and Co-founder Anthony Tan hopes Grab will bring more attention to the Southeast Asian market, an area he believes is ripe for opportunity.
“We truly believe this is Southeast Asia’s time to shine, and we hope that our entrance into the global public market will help bring greater attention to the tremendous opportunity here in the region,” said Tan.
Grab's excursion to one of the most esteemed companies in all of Southeast Asia began with making the taxi services more straightforward more secure in Malaysia. Prior to Grab, Malaysia was famous for unlicensed taxis cheating for their rides. The application, first named MyTeksi, permitted suburbanites and sightseers to carefully demand a taxi as opposed to flagging down one. Presently, Grab works in eight countries across Southeast Asia.
However, even with its grand achievements, Grab remains grounded in its main goal to serve the Southeast Asians and set the area up for life of worldwide business.
“Our calling remains the same - to unlock greater opportunity for all Southeast Asians to participate in the digital economy,” said Tan.
This methodology is vital to Grab's proceeded with progress. At the point when COVID-19 isolated the majority of the world, road sellers, which make up the greater part of the food market in Southeast Asia, were viably out of a task. In 2020, Grab carried 600,000 private ventures online with their application, carrying delectable food to local people and keeping the road markets alive.
“Our evolution into a super app was guided by the everyday problems we wanted to solve for the people we care about,” said Tan.
Going ahead, Grab will keep on making helpful and creative innovation that serves Southeast Asian people group. One year from now, it intends to dispatch an advanced bank in Singapore and a planning administration.
Read more: https://www.nasdaq.com/articles/nasdaq-welcomes-grab-the-largest-foreign-spac-combination
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