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Grab racks up 1bn rides in Southeast Asia

Released at: 11:24, 08/11/2017

Grab racks up 1bn rides in Southeast Asia

Photo: Grab

Ride-hailing platform now available in seven countries and 142 cities across region.

by Khanh Chi

Grab, the leading on-demand transportation and mobile payments platform in Southeast Asia, has announced it has completed 1 billion rides across Southeast Asia.

It hit the 1-billion mark on October 26 with 66 concurrent rides in one second across all seven of its markets in Southeast Asia: Vietnam, Singapore, Indonesia, the Philippines, Malaysia, Thailand, and Myanmar.

Growth in rides has been accelerating rapidly this year, demonstrating the enormous untapped potential of on-demand transport in Southeast Asia and how Grab’s multi-modal, hyper local approach as well as its world-class technology are enabling it to capture this increasing demand.

“This milestone is a great testament to the strength of Grab’s business and our management team that we have dramatically increased the size of our business in such a short time and not only maintained the same great service but improved it by continuing to innovate our business, solve local problems, and change lives through technology,” said Mr. Anthony Tan, Co-Founder and CEO of Grab. “I’m immensely grateful to all our driver-partners, passengers, investors and partners for their support, and the incredible Grab team that has managed this massive scale-up together.”

“As we drive forward together to the next 1 billion rides, we are even more focused than ever. We hope to bring our driver-partners and passengers the best on-demand transport experience. At the same time, we are taking a big step into mobile payments, enabling GrabPay beyond transport and making digital and financial inclusion possible for everyone in Southeast Asia. We are now looking forward to soon serving our billionth transaction in GrabPay.”

The 1-billion ride milestone builds on a series of major upgrades to Grab’s R&D and technological capabilities as the platform rapidly scales up to meet dramatically increasing demand from driver-partners and passengers. The company recently announced the appointment of Mr. Theo Vassilakis as Chief Technology Officer, and earlier in 2017 it doubled the number of its R&D centers from three to six, adding new centers in Ho Chi Minh City, Bangalore (India), and Jakarta.

Grab offers private car, motorbike, taxi, and carpooling services in seven countries and 142 cities in Southeast Asia, with one out of every three passengers using multiple services. Grab’s current market share is 95 per cent in third-party taxi-hailing and 72 per cent in private vehicle hailing and it has the largest land fleet in Southeast Asia, with over 2 million driver-partners who earn up to 55 per cent more than national average hourly wages on its platform.

Grab is also one of the most frequently used mobile platforms in the region, with over 3.5 million daily rides, and the Grab app has been downloaded onto more than 68 million mobile devices. According to global market researchers TNS, Grab is the brand that is used most often in Singapore, Indonesia, Philippines, Malaysia, Thailand, and Vietnam, compared to other ride-hailing apps and taxi booking apps.

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