German insurance giant Allianz is following Google and Tencent by backing Go-Jek, the Indonesia-based ride-hailing and local services company valued at over $4.5 billion, after it announced an investment. The money comes from Allianz X, the firm’s digital investment arm, which confirmed it put in $35 million in what is its first deal in Southeast Asia. The […]
View More Insurance giant Allianz confirms $35M investment in Asian ride-sharing unicorn Go-JekCategory: Southeast Asia
Following Singapore, Philippines regulator forces Grab to delay closing Uber’s app
Grab has given the Uber app a stay of execution in yet another market as regulators across Southeast Asia continue to investigate the merger deal announced between the ride-hailing companies last month. Fresh from extending the closure date a week in Singapore, Grab has done the same in the Philippines, a spokesperson confirmed to TechCrunch. […]
View More Following Singapore, Philippines regulator forces Grab to delay closing Uber’s appGrab delays shuttering Uber app as Singapore probes merger deal
Fans of Uber in Singapore will have a little more time to continue using the app after Grab, the rival that is acquiring Uber’s business in the region, agreed to extend the life of the app until April 15 while the country’s competition commission reviews the merger deal. Grab had originally intended to close the […]
View More Grab delays shuttering Uber app as Singapore probes merger dealAlibaba is preparing to invest in Grab
Fresh from announcing a deal to buy out Uber in Southeast Asia, Grab looks set to gain further firepower with Chinese e-commerce giant Alibaba preparing to invest in the ride-hailing firm. Alibaba is in the early stages of making an investment in Grab, two sources with knowledge of discussions told TechCrunch. Isn’t yet clear what […]
View More Alibaba is preparing to invest in GrabSingapore says Uber-Grab deal may violate competition laws
Uber’s exit from Southeast Asia is under scrutiny from regulators in Singapore who believe that Grab’s purchase of the U.S. firm’s business in the region may violates competition laws. Singapore-based Grab, Uber’s chief rival in the region, announced the acquisition of Uber’s Southeast Asian business on Monday. In return, Uber is taking 27.5 percent of the Grab […]
View More Singapore says Uber-Grab deal may violate competition lawsAfrican VC TLcom Capital invests $5M in Nigerian data analytics firm Terragon Group
Jake Bright Contributor Jake Bright is a writer and author in New York City. He is co-author of The Next Africa. More posts by this contributor Africa Roundup: Uber says it’s staying, Konga could be epic startup fail Harley Davidson’s EV debut could electrify the motorcycle industry The African venture firm TLcom Capital is betting […]
View More African VC TLcom Capital invests $5M in Nigerian data analytics firm Terragon GroupSoutheast Asia exit deal is a win, not a defeat, for Uber
They say in sport that the best teams win even when they don’t perform. On those terms, Uber seems unstoppable. The day’s big news is that the U.S. ride-hailing firm is leaving Southeast Asia after it agreed to sell its business to local rival Grab. That much is true, but claims that Grab beat Uber out […]
View More Southeast Asia exit deal is a win, not a defeat, for UberIt’s official: Uber sells Southeast Asia business to Grab
It’s official, Uber has announced that it has sold its Southeast Asia-based business to rival Grab . The deal follows a month of speculation, and it will see Grab — which is valued at over $6 billion — buy up Uber’s ride-sharing business in eight countries in Southeast Asia. It will also take over Uber […]
View More It’s official: Uber sells Southeast Asia business to GrabUber has agreed to sell its Southeast Asia business to rival Grab
After weeks of speculation, Uber has concluded a deal that will see it sell its business in Southeast Asia to local rival Grab . The company plans to announce the agreement this coming week and potentially as soon as Monday, two sources have confirmed to TechCrunch. Full details of the arrangement aren’t fully clear at this point, […]
View More Uber has agreed to sell its Southeast Asia business to rival GrabAlibaba doubles down on Lazada with fresh $2B investment and new CEO
Alibaba is increasing its control of Lazada, its e-commerce marketplace in Southeast Asia it acquired control of in 2016, after it injected another $2 billion into the business and replaced its CEO with a long-standing Alibaba executive. Alibaba’s first investment came in April 2016 when it bought 51 percent of Lazada for $1 billion, and […]
View More Alibaba doubles down on Lazada with fresh $2B investment and new CEOGrab launches a bike-sharing service in Southeast Asia
After much speculation, Southeast Asian Uber rival Grab has jumped into the bike-sharing space after it launched a service in Singapore.
GrabCycle Beta will offer services from a range of services, including bike-sharing services oBike — which includes Grab as an investor — GBikes and Anywheel, plus electric scooter rental Popscoot. The project is the first to launch… Read More
Carsome raises $19M for its used-car sales platform in Southeast Asia
Funding for Southeast Asia’s car trading platforms is like buses. After a long wait without news, a third startup has raised funding in the space of a month. Carsome, a Malaysia-based company that also operates in Singapore, Indonesia and Thailand, announced today it has raised a $19 million Series B round just weeks after smaller rivals BeliMobilGue and Rocket Internet’s Carmudi… Read More