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Figleaf forgot password4/6/2023 ![]() ![]() On the home front, Grab is increasingly squeezed by Gojek, its upstart rival that’s expanding in the region. ![]() More broadly, SoftBank-Grab’s main financier-is under pressure for big bets that have shown few signs of profitability, including co-working giant WeWork’s disastrous (and now abandoned) IPO effort and a collapse at dog walking startup Wag. Already, there are reports that some investors in Didi Chuxing, China’s top ride-hailing company, are selling their shares at much lower prices. Cab aggregator Uber’s struggle since its eagerly-anticipated IPO-which has included cost-cutting layoffs and a low share price-has raised doubts about the viability of the ride-hailing model. While it has forecast $2 billion in revenues for 2019, it has remained mum on its losses.Ĭircumstances outside its control have put the focus on unsustainable business models and billion-dollar valuations. ![]() The company’s social impact report detracts from more pressing concerns-it is yet to turn a profit and it remains unclear when it might do so. Lofty economic and social improvement ambitions aside, this may be the most challenging time ever for Grab. The 27-page document-chock full of impressive-looking statistics-was released last month to quantify Grab’s mission to “create real, sustainable impact in each country in Southeast Asia, so that each generation can live better than the one before it.” That’s a big number, even for the world of ride-hailing, and it is the biggest claim put forth by $14 billion-valued Grab in its inaugural ‘social impact’ report. That’s the value that ride-hailing firm Grab claims it contributed to Southeast Asia’s economy between April 2018 and March 2019. Want to read our free stories and try our newsletters? Register or Login ![]()
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