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Serious GRAB - A Public Listed Company wef 2 Dec 2021
- Thread starter shiokalingam
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Their net loss is S$20m a day in last quarter.
Still trust them with a banking license in Singapore?
Still trust them with a banking license in Singapore?
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Grab alot of wayang never look after its grab drivers food delivery drivers ...
i hope it will next go to usd $2.00
i hope it will next go to usd $2.00
but Uber has driverless technologyGrab is but a Clone copycat of Uber.
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$3.28 per share? The company’s stock is worth less than a McDonald’s meal. Haha
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GRAB founder Anthony Tan was briefly a billionaire when Grab debuted on the Nasdaq with an opening price of US$13.06.
Anthony Tan's stake was worth about US$1.1 billion while co-founder Tan Hooi Ling's stake was worth US$333.7 million.
But their fortunes quickly reversed as the share price plunged 20.5 per cent to close at US$8.75 on Thursday (Dec 2). The slide wiped out about US$17 billion of Grab's market value, with Grab's market cap now sitting at US$34.5 billion.
This resulted in Anthony Tan's stake losing US$275 million to total US$725.4 million while Tan Hooi Ling's stake shrunk US$110.1 million to US$223.6 million.
Despite owing just 3.3 per cent of Grab's total shares, Anthony Tan has 60.4 per cent of the voting power due to Tan Hooi Ling's shares and Grab president Ming Maa's shares being held by trusts that appoints Anthony Tan the voting rights.
Anthony Tan's stake was worth about US$1.1 billion while co-founder Tan Hooi Ling's stake was worth US$333.7 million.
But their fortunes quickly reversed as the share price plunged 20.5 per cent to close at US$8.75 on Thursday (Dec 2). The slide wiped out about US$17 billion of Grab's market value, with Grab's market cap now sitting at US$34.5 billion.
This resulted in Anthony Tan's stake losing US$275 million to total US$725.4 million while Tan Hooi Ling's stake shrunk US$110.1 million to US$223.6 million.
Despite owing just 3.3 per cent of Grab's total shares, Anthony Tan has 60.4 per cent of the voting power due to Tan Hooi Ling's shares and Grab president Ming Maa's shares being held by trusts that appoints Anthony Tan the voting rights.
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At usd $3.28 Tan is now worth roughly = 84,226,646 x 3.28= usd $ 275 million.
down from a high of usd$1.10 bn on listing day in Dec 2021.
down from a high of usd$1.10 bn on listing day in Dec 2021.
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According to this article, Temasek bought more GRAB two weeks ago
https://www.straitstimes.com/busine...obinhood-and-other-consumer-focused-companies
Gojek has a viable business model but if you ever talk to GRAB's management, you would agree that they are basically aimless.
https://www.straitstimes.com/busine...obinhood-and-other-consumer-focused-companies
Gojek has a viable business model but if you ever talk to GRAB's management, you would agree that they are basically aimless.
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heard he is now a singaporean.
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thur 3 march 2022 ny
Southeast Asia’s ride-hailing and delivery giant has plunged 63% since its debut, placing it among the Nasdaq Composite Index’s worst performers over that stretch. Thursday’s drop marked its biggest selloff ever after the Singapore-based company’s quarterly net loss nearly doubled from last year while revenue shrank 44%. The tumble came as 116 million shares changed hands, more than four-times the average over the past month.
Grab — which counts SoftBank Group Corp. and Uber Technologies Inc. as its two biggest shareholders — has struggled to gain a steady footing since its merger with Brad Gerstner’s Altimeter Growth Corp. late last year. The ride-hailing company has racked up losses since its founding and Thursday’s report showed spending on growth is taking it further from profitability.
Its net loss reached US$1.06 billion in the fourth quarter, compared with the consensus estimate of US$645 million. Those mounting losses have led investors to flee the stock alongside other companies that have yet to turn a profit. Grab was the worst performer in the De-SPAC Index on Thursday as the basket of former special-purpose acquisition companies dropped 5.4% to a record low.
As the pandemic has weighed on ride-hailing demand, Grab has expanded its food delivery business to drive user growth. The online grocery market in Southeast Asia is expected to almost triple to US$11.9 billion in 2025 from US$4.1 billion in 2020, according to Euromonitor International.
But while spending by customers on Grab’s platform is increasing, the growth isn’t yet translating to earnings. Revenue booked from delivery last quarter was just US$1 million. Grab deducts incentives that it offers to drivers and consumers from sales, and its quarterly revenue number fluctuates wildly depending on how much it spends on such efforts.
Its total spending on incentives more than doubled to US$583.5 million in the fourth quarter. For 2021 as a whole, incentive spending soared to US$1.78 billion from US$1.24 billion the previous year.
“We did not expect Grab to spend on such huge incentives,” Shifara Samsudeen, an analyst at LightStream Research, said in a research report on Smartkarma. This implies the company is “struggling to grow its business and profitability seems like a tall order from Grab.”
Grab, founded by Anthony Tan and Hooi Ling Tan, has long been viewed as one of the most promising growth companies in Southeast Asia. Its business model is similar to that of Uber, the U.S. ride-hailing and delivery pioneer that sold its Southeast Asia operations to Grab in 2018.
Among Grab’s challenges is intensifying competition, including from Sea Ltd., Southeast Asia’s biggest internet company. More directly, its Indonesian ride-hailing rival, Gojek, merged with e-commerce provider PT Tokopedia to become GoTo. The combined entity is preparing for an initial public offering at home and in the U.S. this year.
(Updates with details on Grab’s spending starting in third paragraph)
© 2022 Bloomberg L.P.
Southeast Asia’s ride-hailing and delivery giant has plunged 63% since its debut, placing it among the Nasdaq Composite Index’s worst performers over that stretch. Thursday’s drop marked its biggest selloff ever after the Singapore-based company’s quarterly net loss nearly doubled from last year while revenue shrank 44%. The tumble came as 116 million shares changed hands, more than four-times the average over the past month.
Grab — which counts SoftBank Group Corp. and Uber Technologies Inc. as its two biggest shareholders — has struggled to gain a steady footing since its merger with Brad Gerstner’s Altimeter Growth Corp. late last year. The ride-hailing company has racked up losses since its founding and Thursday’s report showed spending on growth is taking it further from profitability.
Its net loss reached US$1.06 billion in the fourth quarter, compared with the consensus estimate of US$645 million. Those mounting losses have led investors to flee the stock alongside other companies that have yet to turn a profit. Grab was the worst performer in the De-SPAC Index on Thursday as the basket of former special-purpose acquisition companies dropped 5.4% to a record low.
As the pandemic has weighed on ride-hailing demand, Grab has expanded its food delivery business to drive user growth. The online grocery market in Southeast Asia is expected to almost triple to US$11.9 billion in 2025 from US$4.1 billion in 2020, according to Euromonitor International.
But while spending by customers on Grab’s platform is increasing, the growth isn’t yet translating to earnings. Revenue booked from delivery last quarter was just US$1 million. Grab deducts incentives that it offers to drivers and consumers from sales, and its quarterly revenue number fluctuates wildly depending on how much it spends on such efforts.
Its total spending on incentives more than doubled to US$583.5 million in the fourth quarter. For 2021 as a whole, incentive spending soared to US$1.78 billion from US$1.24 billion the previous year.
“We did not expect Grab to spend on such huge incentives,” Shifara Samsudeen, an analyst at LightStream Research, said in a research report on Smartkarma. This implies the company is “struggling to grow its business and profitability seems like a tall order from Grab.”
Grab, founded by Anthony Tan and Hooi Ling Tan, has long been viewed as one of the most promising growth companies in Southeast Asia. Its business model is similar to that of Uber, the U.S. ride-hailing and delivery pioneer that sold its Southeast Asia operations to Grab in 2018.
Among Grab’s challenges is intensifying competition, including from Sea Ltd., Southeast Asia’s biggest internet company. More directly, its Indonesian ride-hailing rival, Gojek, merged with e-commerce provider PT Tokopedia to become GoTo. The combined entity is preparing for an initial public offering at home and in the U.S. this year.
(Updates with details on Grab’s spending starting in third paragraph)
© 2022 Bloomberg L.P.
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https://www.reuters.com/business/gr...unges-promotions-driver-incentives-2022-03-04
Revenue from Grab's mobility unit, which accounted for 86% of overall sales, declined 27% in the quarter. Revenue from its food delivery services unit plunged 98%.
Revenue from Grab's mobility unit, which accounted for 86% of overall sales, declined 27% in the quarter. Revenue from its food delivery services unit plunged 98%.
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on the way to usd$2.00/-
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