Here are 1-3 brief analogies for Grab:

• Uber and DoorDash combined into a single app for Southeast Asia.
• The Uber, DoorDash, and PayPal of Southeast Asia, all in one super app.

• Mobility: Offers on-demand transportation services, including private cars, taxis, and motorbikes, connecting passengers with drivers.
• Food Delivery (GrabFood): Allows users to order meals from a wide selection of restaurants and have them delivered directly to their location.
• Grocery and Retail Delivery (GrabMart): Enables users to purchase groceries, convenience store items, and other retail products for on-demand delivery.
• Package Delivery (GrabExpress): Provides on-demand courier services for sending documents, parcels, and other items quickly and reliably.
• Digital Payments (GrabPay): A mobile wallet service facilitating cashless transactions across Grab's ecosystem and with participating merchants.
• Financial Services: Provides various financial products including lending, insurance, and wealth management solutions to consumers and partners.

Grab (symbol: GRAB) primarily sells its services to individuals rather than other companies. As a "super-app" company in Southeast Asia, its services cater to a wide range of individual needs.

Here are the up to three categories of individual customers that Grab serves:

1. Commuters and Travelers

   This category includes individuals who use Grab's ride-hailing services (e.g., GrabCar, GrabBike, GrabTaxi) for daily commutes, occasional trips, airport transfers, or general transportation needs. These customers prioritize convenience, accessibility, safety, and often affordability in their travel.

2. Food & Grocery Shoppers

   This group comprises individuals who utilize GrabFood for meal delivery from restaurants and GrabMart for grocery and convenience store item delivery. These customers value the convenience of having food and daily essentials delivered to their doorstep, saving time and offering a wide selection of choices.

3. Digital Payment Users & Financially Active Individuals

   This category encompasses individuals who use GrabPay for cashless transactions, both within the Grab ecosystem (for rides, food, etc.) and at external merchant partners. It also includes individuals who leverage Grab's financial services like loans, insurance, or investment products offered through the platform, seeking secure and integrated digital financial solutions.

• Microsoft (MSFT)
• Mapbox

Anthony Tan, Group CEO and Co-Founder

Anthony Tan is the Group CEO and Co-Founder of Grab, which he co-founded in 2012 with Tan Hooi Ling. Before founding Grab, he was the Head of Supply Chain and Marketing at Tan Chong Group, a family automotive business where he drove logistics and created brand affinity for their automotive brands. He graduated with a Bachelor of Arts with Honors in Economics and Public Policy from the University of Chicago and holds a Master of Business Administration (MBA) with Honors from Harvard Business School. Tan could have joined his family's auto business, Tan Chong Motor, but chose to strike out on his own. Under his leadership, Grab has expanded significantly, offering various on-demand services across Southeast Asia.

Peter Oey, Chief Financial Officer

Peter Oey has served as Grab's Chief Financial Officer since April 2020. He leads financial operations, corporate accounting and reporting, treasury, financial planning and analysis, investor relations, tax, Sarbanes-Oxley Act compliance, and procurement. Prior to joining Grab, Oey was the Chief Financial Officer of LegalZoom.com, Inc. from December 2014 to April 2020. He also held the CFO position at MyLife.com from March 2012 to November 2014 and spent over 12 years at Activision Blizzard, Inc., where he held several leadership roles, including Vice President and Corporate Controller. Oey brings over 20 years of corporate financial and strategic planning experience to Grab. He received a bachelor's degree in economics with a major in accounting from the University of Sydney in 1991 and is a certified practicing accountant registered in Australia.

Tan Hooi Ling, Co-Founder and Director

Tan Hooi Ling is the Co-Founder of Grab. She co-founded Grab (originally MyTeksi) in June 2012 with Anthony Tan, after they developed the idea while attending Harvard Business School. Before officially taking her position as Grab's Chief Operating Officer in 2015, Tan was a business analyst at McKinsey & Company, where she advised global corporations. McKinsey also sponsored her MBA education at Harvard Business School. She later joined Salesforce in San Francisco, where she led high-priority strategic and operational projects. Tan oversees the development of Grab's new products and technology, operations, and customer experience.

Ming Maa, President

Ming Maa is the President of Grab. He has over 27 years of finance and investment experience across the U.S. and Asia. He joined Grab from SoftBank Group Corp., one of Grab's key strategic investors, where he was based in Tokyo and oversaw SoftBank's investments in leading ridesharing and e-commerce companies. Before SoftBank, Maa was a Principal at Ancora Capital Management Pte Ltd in Jakarta. From 2000 to 2012, he was a Vice President in Goldman Sachs' Merchant Banking Division, the firm's global private equity group, based in Tokyo, New York, and San Francisco, where he managed investments and served on the boards of several technology and media companies. Ming received his Bachelor of Science and Master of Science degrees from the Massachusetts Institute of Technology.

Alex Hungate, Chief Operating Officer

Alex Hungate has been the Chief Operating Officer of Grab since January 2022. He oversees Grab's mobility, deliveries, and financial services businesses, as well as marketing and user support functions. Hungate brings over 25 years of leadership experience from the financial services, logistics, and food services industries. Before joining Grab, he served as the Director, President, and Chief Executive Officer of SATS and as the Chief Executive Officer of HSBC Singapore. He also held various leadership roles at Reuters, including Co-Chief Executive Officer of Americas and Global Chief Marketing Officer. Alex received a degree in engineering, economics, and management from Oxford University and an MBA from Harvard Business School.

Increased competition from Sea Ltd.'s ShopeeFood and SeaMoney in key Southeast Asian markets, leveraging Shopee's existing large e-commerce user base and substantial financial resources to aggressively expand in food delivery and digital financial services.

The addressable markets for Grab's main products and services in Southeast Asia are as follows:

• Food Delivery: The gross merchandise value (GMV) of Southeast Asia's on-demand food delivery market was estimated at US$15.2 billion in 2021 and is expected to reach US$49.7 billion by 2030, growing at a compound annual growth rate (CAGR) of 14.1%. More recently, the Southeast Asia food delivery market grew to US$19.3 billion in 2024. Revenue in the Southeast Asian online food delivery market is projected to reach US$45.53 billion by 2027, with a CAGR of 17.54% from 2023 to 2027. The market size was USD 5,536.7 million in 2024 and is expected to reach USD 19,722.8 million by 2033, exhibiting a CAGR of 15.16% during 2025-2033.
• Ride-hailing (Mobility): The ride-hailing sector in Southeast Asia is expected to be worth approximately US$20 billion by 2025. In 2024, the Southeast Asia ride-hailing market size was USD 3,039.87 million and is projected to grow at a CAGR of 12%. Specifically, the Indonesian ride-hailing market is estimated at USD 3.77 billion in 2025 and is expected to reach USD 5.34 billion by 2030, with a CAGR of 7.23%.
• Digital Payments: The adoption of digital payments in Southeast Asia is predicted to grow from US$600 billion in 2021 to exceed US$1 trillion by 2025. The gross transaction value of digital payments in Southeast Asia is projected to reach US$1,174 billion by 2025, with a CAGR of 13%. Another projection indicates the digital payments market in Southeast Asia is set to grow from US$120 billion in 2023 to US$306 billion by 2028, at a CAGR of 21%.
• Financial Services (Lending, Insurance, Wealth Management, Digital Banking): null

Grab Holdings Limited (GRAB) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market dynamics:

1. Sustained Growth in On-Demand Services and User Expansion: Grab anticipates continued revenue growth from its core on-demand segments, including mobility (ride-hailing) and deliveries (food and groceries). This growth is fueled by an increase in monthly transacting users (MTUs) and transaction frequency, partly through product-led initiatives focused on affordability and reliability, such as "Saver Rides" and expanded services like GrabMart and Dine Out. For example, on-demand Gross Merchandise Value (GMV) grew 20% year-over-year in Q4 2024 and 24% year-over-year in Q3 2025.
2. Expansion and Monetization of Financial Services: The company's financial services segment, encompassing GrabFin and its digital banks (GXS Bank in Singapore, GXBank in Malaysia), is a significant driver of future revenue growth. Financial services revenue grew 38% year-over-year in Q4 2024 and 39% year-over-year in Q3 2025, primarily attributed to increasing contributions from its lending business. Grab aims to achieve a $1 billion loan book and expects its financial services to reach break-even by the second half of 2026.
3. Growth in Advertising Revenue: Grab is seeing increasing contributions from advertising, particularly within its deliveries segment. This is being driven by higher contributions from advertising and the availability of more self-serve options for merchants, indicating an opportunity for further monetization as the platform scales.
4. Product-Led Innovation and Introduction of New Services: Grab consistently introduces new products and features to enhance user engagement and attract new customers. Examples include shared rides, group food orders, Family Accounts, and GrabMore (allowing users to add grocery items to food orders). The company is also making disciplined investments in emerging areas like autonomous vehicles (e.g., launching its "Ai.R" autonomous ride service in Singapore by early 2026) and drone-powered delivery pilots.
5. Leveraging the "Superapp" Ecosystem and Cross-Selling: Grab's integrated "superapp" platform, which combines mobility, deliveries, and financial services, creates a powerful ecosystem. This allows for effective cross-selling of services, attracting new users, and increasing the overall transaction frequency and engagement across its various offerings, fostering a "flywheel impact" for broader ecosystem benefits.

Share Repurchases

• In February 2024, Grab announced its first-ever share repurchase program, authorizing $500 million for the repurchase of its Class A ordinary shares.
• By June 2025, Grab had plans to fully utilize the remaining $274 million of its initial $500 million share repurchase program and repurchased approximately $273.5 million of Class A Ordinary Shares.
• A broader share buyback program committing up to $1 billion was announced in August 2025.

Share Issuance

• In June 2025, Grab priced an upsized $1.5 billion offering of zero-coupon convertible senior notes due 2030, convertible into Class A Ordinary Shares.
• In January 2021, Grab completed a Series A funding round, raising $3.0 billion.
• Grab secured $2.0 billion in debt financing in January 2021.

Inbound Investments

• In January 2021, Grab received $3.0 billion through a Series A funding round.
• The company secured $2.0 billion in debt financing in January 2021.
• In February 2020, Grab closed a Series I funding round, raising $856 million.

Outbound Investments

• In July 2023, Grab acquired Singapore's third-largest taxi operator, Trans-cab Holdings, for approximately SGD100 million (around $74 million USD).
• Grab acquired a majority economic interest in Jaya Grocer in Malaysia in September 2022.
• Also in September 2022, Grab entered into a strategic partnership and investment with PT Trans Retail in Indonesia to enhance on-demand grocery delivery by leveraging their hypermarket infrastructure.

Capital Expenditures

• Grab's annual capital expenditures were $113 million in 2024, $92 million in 2023, and $74 million in 2022.
• The trailing twelve months (TTM) capital expenditures for Grab amounted to $118 million.
• Grab anticipates flat capital expenditures and low capital expenditure intensity from 2024, which is expected to contribute to increasing free cash flow, although corporate costs and capex are also projected to rise due to investments in innovation and affordability.