Home Blockchain News Uber-Killer Grab Prepares for War in Asia by Raising $1.5 Billion

Uber-Killer Grab Prepares for War in Asia by Raising $1.5 Billion

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The cash-grab brings the Singapore tech firm’s valuation up to $14 billion, according to press reports. Singapore-based ride-hailing firm Grab has packed its war chest with $1.5 billion in fresh equity financing from Soft Bank’s Vision Fund this week. That’s enough to lift the private firm’s valuation to $14 billion, CNBC reports. Without public data on the firm’s operating revenues and expenses, this estimate remains speculative and should be viewed with some skepticism. Last year, Grab founder Anthony Tan notched a major victory over U.S.A.-based competitor Uber Technologies. Uber surrendered its business operations in Southeast Asia in exchange for a

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* First published on ccn.com

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