Hooi Ling Tan, co-founder of Grab, speaks during the Bloomberg Sooner Than You Think technology conference in Singapore, on Thursday, Sept. 6, 2018. Singapore's Grab outlined ambitious fundraising plans and predicted that sales will double next year, adding to evidence that Southeast Asia's most valuable startup is expanding well beyond its roots as a ride-haling app and intensifying a rivalry with Indonesia's Go-Jek. Photographer: Paul Miller/Bloomberg
Singapore's Grab outlined ambitious fundraising plans and predicted that sales will double next year, adding to evidence that South-East Asia's most valuable startup is expanding well beyond its roots as a ride-haling app while intensifying a rivalry with Indonesia's Go-Jek.
Revenue will double to US$2bil (RM8.28bil) in 2019 as it integrates the acquisition of Uber Technologies Inc's regional business and delves deeper into new areas from bike-sharing to digital payments. It's on track to raise US$3bil (RM12.42bil) of funding before the end of this year, co-founder Hooi Ling Tan said at Bloomberg's Sooner Than You Think technology summit in Singapore. That includes US$1bil (RM4.14bil) from Toyota Motor Corp, the Japanese automaker's biggest investment in ride-hailing to date.
