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
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.
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.
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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What is Grab?