Fresh out of a strategic Microsoft investment, Grab, the Southeast Asian leader, is making money again after closing $ 200 million in fresh capital from Booking Holdings, the travel company formerly known as Priceline.
The investment is part of an ongoing financing round that Grab said is on track to reach $ 3 billion by the end of the year. Grab raised $ 2 billion for the round, including a $ 1 billion check from Totoya, but continues to add strategic partners, such as Microsoft and Booking. Grab, who bought Uber's regional business in March and is present in eight countries, is valued at $ 11 billion and we understand that it has not changed with this round.
The agreement, which mimics the recent investment of $ 500 million in Didi Booking in China – will lead the two companies to come together to offer reciprocal services. You will see the integrated transport services of Grab in the applications and services of Booking with support for Grab Pay. On the other hand, Grab said that Booking travel services will reach its application sometime in 2019, although Grab's customers in "multiple markets" will get rewards and offers in the application before the end of this year.
In addition to Booking. com and Agoda, Booking also operates Kayak, Priceline.com, Rentacars.com and OpenTable. The firm changed its name to Priceline in February 2018.
The tie makes sense on both sides. Passenger transport services are a main channel for travel companies: both Didi and Grab dominate their respective markets, Grab claims more than 110 million downloads, while the idea of pre-ordering a Grab to meet you after that a flight has landed, or having a single shot for your hotel will be logical for many.
Grab started offering taxis, but has since expanded to private vehicles for automobiles, motorcycles and a range of non-transportation services that include payments and food delivery. In addition, the company opened its platform to third parties this summer in an effort to develop a "super application". for the growing Internet population in Southeast Asia, which is already larger than the entire US population. UU
You do not have everything You've easily navigated through Grab in your post-Uber world. Both Uber and Grab were fined $ 9.5 million by the Singaporean watchdog for the merger – they got a lighter hit in the Philippines – while some users have complained about an inflated application, lower quality of service and more fees. high in recent months. Agarra disputes the latest claim that it has raised prices, but is committed to doing better for its customers.
Grab's main rival is Indonesia Go-Jek, which is said to be raising $ 2 billion more to support a regional expansion plan. Go-Jek has already moved to Vietnam and Thailand, while this week he opened subscriptions for drivers in Singapore.