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In 2021, the revenue of Southeast Asian technology company Grab Holdings Inc. amounted to around *** million U.S. dollars. This marked a year-over-year growth by ** percent compared to 2020. 

Southeast Asia’s first decacorn

Founded in Malaysia in 2012 under the name MyTeksi, Grab started out exclusively as a ride-hailing application. Now headquartered in Singapore and Indonesia, Grab operates a multipurpose app, also offering food delivery and digital payment in addition to its mobility services. Having raised over 10 billion U.S. dollars in funds in 2020, the company was named Southeast Asia’s first decacorn. Grab’s direct competitor, Indonesian ride-hailing provider Gojek, also has millions of monthly active users across several Southeast Asian countries and has since become the region’s second decacorn, further proving the potential of SEA’s technology-based multipurpose startups and its mobility service industry.

Ridesharing in Asia-Pacific – the future of mobility?

Modern mobility services in the Asia-Pacific region are on the rise in general, not only in Southeast Asia. Several countries have their own local providers, such as Didi in China or Ola in India. Users appreciate different perks of ride-hailing as opposed to using their own car or a taxi, including lower costs or not having to find a parking spot. An ever-increasing environmental awareness might also lead people to seek out alternatives to using their own car in the future.