"Grab is a rideshare service-turned superapp, not available in the U.S. but rapidly growing in Southeast Asia. It's even outmaneuvered global players like Uber to reach a valuation north of $20 billion. Grab's cofounder and CEO Anthony Tan shares how the platform has successfully expanded into food delivery and fintech, while also investing in the future of electric vehicles and autonomous driving."
"Well, the super app just means an app that has multiple services. If you look at how it's evolved here in Southeast Asia, we started just to solve Southeast Asian problems. For example, safety. Safety was a major issue. We wanted to make sure rides were safe for women and children. That was a real problem, and we solved that. We are now at 99.9% safety."
Grab launched in 2012 as a rideshare service and has become Southeast Asia's largest super app, integrating rides, food delivery, and financial services. The platform prioritized safety, achieving 99.9% safety metrics and addressing local needs like phone financing for drivers. Fintech offerings grew from operational necessity, enabling driver access to smartphones and financial products. Strategic expansion outpaced global competitors, contributing to a valuation north of $20 billion. Leadership invested in electric vehicles, autonomous driving, and an ambitious AI study to implement creative AI solutions, while fostering a culture of hunger and humility to compete in a chaotic, competitive market.
Read at Fast Company
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