Operating primarily in Southeast Asia, it is the region’s largest tech-startup and first decacorn (company valued at $1 billion). Grab followed the deregulation playbook, with laws amended in countries including Thailand, Singapore and Malaysia in order to legalise the service. In Cambodia and Singapore, Grab partnered with local government bodies to develop traffic management infrastructure by using the app’s data and tech framework.
In 2018, Uber sold its Southeast Asia operations to Grab, with Uber acquiring a 27.5% stake in the latter, and CEO Dara Khosrowshahi joining Grab’s board. Both companies held investments by SoftBank.
