Venture-backed: GrabTaxi has raised more than US700mil to date from investors including Japan’s SoftBank Corp and Singapore’s Vertex Venture Holdings, possibly pushing its valuation past the US1bil ‘unicorn’ mark. — Reuters
SINGAPORE: GrabTaxi Holdings Pte expects to break even in 2016, just four years after its founding, as South-East Asia’s largest venture-backed startup broadens its ride-booking services to stay a step ahead of hard-charging Uber Technologies Inc.
The region’s largest car- and taxi-hailing service is eschewing an initial public offering (IPO) for the moment while it works on expanding a car-hire and motorcycle-taxi service straddling six countries into areas like carpooling, co-founder and chief executive officer Anthony Tan said in Singapore.
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