Grab, Southeast Asia’s omnipresent ride hailing service turned multi-functional service app, has seen a staggering rise in its six years of history.
Grab is not only the biggest ride hailing app across most of South East Asia, but is now the fastest-growing regional food delivery service, and among the most popular platforms in Southeast Asia for transportation and mobile payments.
The company currently serves 235 cities in Southeast Asia, almost sevenfold up from just 34 cities at the start of 2017. The company also acquired Uber's Southeast Asia operations in eight markets in mid-2018.
“We’ve just celebrated 2.5 billion rides, (and) 63% of that growth happened literally in the last year,” said Grab CTO and Head of Engineering, Theo Vassilakis, in his keynote presentation at the FUTR Asia Summit in Singapore.
If this growth is anything to go by, Grab’s ambitious target of getting 100 million micro-entrepreneurs on board its platform by 2020 may just be possible. Its suite of services is now used by more than 8 million micro-entrepreneurs, including drivers, merchants, restaurants and small fleet operators.