Empires - An Asian Business Podcast

Grab (MY/SG) | Taking the Wheel | 1/5

Sep 18, 2023

Discover the experiences that shaped the founders of MyTeksi, which later became Grab. Join the team as they claw their way to the top and vie for driver attention. Witness the battle between Uber and Grab, and learn about the investments that transformed Grab into a behemoth. Hear from industry insiders on Grab's impact and significance in Southeast Asia.

25:35

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Quick takeaways

Grab's journey from a fledgling taxi application to a super app valued at nearly 40 billion is nothing short of astounding, becoming an indispensable app for the 700 million people in Southeast Asia.

Grab's dominance in Southeast Asia extends beyond ride-hailing to include food delivery and financial services, with approximately 15 unique products and services, making it known as a super app in the region.

Deep dives

The Birth of Grab: A Vision for Change

Anthony Tan, a third-generation member of the wealthy Tan Chong Motors Group, defies family tradition by expressing his desire to create a taxi-hailing app. Although initially met with skepticism, Anthony believes this app, which eventually becomes Grab, could revolutionize transportation in Southeast Asia. Despite facing challenges, including cost and habit, Grab expands its services beyond ride-hailing to include food delivery and financial services. With Grab's segments offering approximately 15 unique products and services, the app becomes known as a super app in the region.

Introduction

5min

A Day in the Life of Grab Super App User: Ordering Breakfast to Managing Investments

4min

Family Ties and Commuting Solutions

10min

Developing an App to Improve the Taxi Experience

2min

Facing skepticism, winning funding, and making a determined decision

4min

Grab is often referred to as the "Uber of Southeast Asia." However, it's quickly becoming a super app on which one can manage a significant portion of their lives, including investing. By market share, they dominate Southeast Asia, controlling approximately 70% of all rides after Uber's exit. Grab's journey from a fledgling taxi application in Malaysia to being valued at nearly 40 billion, representing the largest SPAC IPO on record, is nothing short of astounding. In its rise, it not only defeated Uber but also became an indispensable app for the 700 million people in Southeast Asia. In EP 1, discover the experiences that left an indelible mark on Anthony Tan and Tan Hooi Ling, the founders of MyTeksi, which later became Grab. In EP 2, join the team as they get gritty, clawing their way to the top and vying for driver attention. In EP 3, witness the relentless battle between Uber and Grab as the team struggles to fend off the industry giant. In EP 4, learn about the pivotal investments that transformed Grab into a behemoth and the all-out war that resulted in the greatest cash burns in Southeast Asian history. In EP 5, hear from industry insiders who shed light on Grab's impact and significance in the region.

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