In early April, soon after Uber announced its departure, both companies began recruiting its former drivers to beef up their fleets. Tan is confident the company can meet the challenges head on. The Competition and Consumer Commission of Singapore concluded in July that the Grab-Uber merger breached the city-state's competition law as it resulted in a "substantial lessening of competition.". The proposed remedy of striking down Grab's exclusivity contracts with drivers is "one-sided," the company added, saying that all other players are allowed to enter into such deals. ”. No. The number of employees currently stands at 3,000. to learn how you can update your cookie settings. Go-Jek in May said it would expand into Vietnam, Thailand, the Philippines and Singapore, supported by $500 million in investment, although Vietnam is the only market it has entered do far. Transport and good are two of the most relevant use cases of our GrabPay mobile wallet. G-02 Ground Floor, Block A, Costs have to come down and efficiency has to improve dramatically to drive growth," said Walter Theseira, transport economist at the Singapore University of Social Sciences. Since it was founded in Malaysia in 2012 by two local graduates of Harvard Business School, the ride-hailing app operator has focused on the Southeast Asian market. (Photo by Kentaro Iwamoto), Ride-hailing app Grab gears up for payment dominance, Grab to tackle ASEAN's traffic tangles amid antitrust pressure, Didi to seek global opportunities with AI and big data. It won’t be long before Grab is everywhere; take a GrabCar to work, use GrabPay to cover lunch, send your spouse a gift through GrabExpress and have dinner thanks to GrabFood. To open up opportunities for all, regardless of background or ability. There will be four main areas that Grab will be expanding into, which are: GrabFood is currently in the midst of a pilot program in selected areas such as Bangsar, Mont Kiara, and Sri Hartamas. "Growth in ride-hailing is actually very expensive at this stage. Grab has raised more than $5 billion in capital and is now valued at $10 billion, the biggest "unicorn" in Southeast Asia, according to CB Insights. Southeast Asia's ride-hailing market is consolidating into a two-horse race between Grab and Go-Jek. The commission proposed measures to remedy the situation, including allowing drivers to work for more than one ride-hailing operator and the retention of pricing algorithms and driver commission rates that existed before the merger. 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Practical gifts don’t have to be boring, Empowering people in South East Asia with next generation insurance, Your one-stop-shop for your daily necessities, Latest news and announcements for Grab Driver-partners, Be your own boss and drive on your own time, Earn extra income as you help deliver items on-demand, Simplify your daily transactions by accepting cashless payment, Grow your business by reaching millions of hungry Grab customers. This report will be published annually to help us chart our progress and a symbol of our commitment to drive this region forward. Get to know our efforts in making everyday lives better in Southeast Asia through our Social Impact Report. "Based on current driver wages and fare levels, there is little room for growth.". The Singapore regulators said there were "numerous complaints from both riders and drivers in relation to the increase in effective prices" after the deal went through. Other local startups, such as Vietnam's Aber and Singapore's Ryde, have entered the race. To protect our planet by minimising our environmental footprint.We only get one Earth. Grab had already begun exploring food delivery services and mobile payment in 2016. New Games Coming To 2021! Lebih dari 1 juta driver GO-JEK siap melayani transportasi online, pesan antar makanan, kirim barang, belanja & pembayaran. I. Another initiative involves partnering with Toyota Motor, which invested $1 billion in the company in June, to develop connected cars incorporating "internet-of-things" technology. Food delivery is a natural extention of our transport offerings and these services can be enabled by one GrabPay mobile wallet to bring about greater convenience for consumers.”. In its written response to the regulator, Grab said it "competes with all other transportation service providers for the same limited pool of commuters."