Empires - An Asian Business Podcast

Grab (MY/SG) | Up for Grabs | 2/5

Sep 25, 2023

In this engaging discussion, Anthony Tan, Co-founder and CEO of Grab, shares his inspiring journey from a young entrepreneur overcoming family hurdles to leading a multi-billion dollar super app. He reveals how Grab transitioned from a simple taxi app in Malaysia to dominating the ride-hailing market and achieving record-breaking valuations. Tan candidly discusses the fierce rivalry with Uber and how strategic investments paved the way for Grab’s unprecedented growth, emphasizing the company's significance in Southeast Asia's digital landscape.

27:31

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Episode guests

Anthony Tan

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Grab's transformation from a taxi app to a super app, controlling 70% of rides in Southeast Asia, showcases incredible market dominance.

The compelling journey of Anthony Tan highlights the challenges and perseverance required to innovate in a competitive landscape.

Deep dives

Celebrating Independence and Ambition

In 1957, Malaya celebrated its newfound independence from British colonial rule, marked by national pride yet overshadowed by uncertainty about the future of Asia. The rapid rise of Japan as a significant power in the region was acknowledged, establishing a contrast to the prevailing doubts about neighboring countries. Amid a storm, Tan Yuet-Fo, a determined Chinese Malaysian, waited outside the newly opened Japanese embassy, hoping to secure an opportunity to sell Nissan cars in Kuala Lumpur. His relentless effort of standing in the rain for nearly 14 hours embodies the perseverance that shaped both the early automotive industry in Malaya and the spirit of entrepreneurship.

Intro

2min

Business Negotiations and Industry Milestones

2min

Legacy and Innovation: The Journey of MyTaxi

12min

Faith, Diversity, and Business Rivalry

2min

The Birth of Uber: A Parisian Vision

4min

Navigating the Rise of Southeast Asia's Ride-Hailing Giants

5min

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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