Uber rival Grab raising $2 billion from SoftBank, China's Didi: WSJ
Reuters | | 37 mins ago
Grab, Uber Technologies Inc's biggest rival in Southeast Asia, is raising as much as $2 billion in funding from Japan's SoftBank Group and China's top ride-hailing firm Didi Chuxing, the Wall StreetJournal reported on Friday.
The deal, which could close in the next few weeks, would value Singapore-based Grab at more than $5 billion, the Journal reported, citing people familiar with the matter.
The deal, which could close in the next few weeks, would value Singapore-based Grab at more than $5 billion, the Journal reported, citing people familiar with the matter.
The reported funding comes amid efforts by Grab to transform into a consumer technology firm that also offers loans, electronic money transfer and money-market funds.
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