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Uber rival Grab to raise $2 bn from SoftBank and China's Didi, reports WSJ

Deal could close in next few weeks, would value Grab at more than $5 billion: WSJ


Grab, Uber Technologies Inc's biggest rival in Southeast Asia, is raising as much as $2 billion in funding from Japan's SoftBank Group and China's top ride-hailing firm Didi Chuxing, the Wall Street Journal reported on Friday. The deal, which could close in the next few weeks, would value Singapore-based Grab at more than $5 billion, the Journal reported, citing people familiar with the matter. The reported funding comes amid efforts by Grab to transform into a consumer technology firm that also offers loans, electronic money transfer and money-market funds. Grab ...

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First Published: Fri, July 14 2017. 21:59 IST