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Havish Gupta
Figuring Out • 5m
Grab's Journey, From Ride-Hailing to Super App! So In 2012, two Harvard students, Anthony Tan and Tan Hooi Ling, founded an online ride-booking platform called MyTeksi in Malaysia. They received a grant of US$25,000 from Harvard Business School to help fund their venture. MyTeksi quickly gained popularity, and by August 2013, they expanded to the Philippines, followed by Singapore and Thailand in the same year. In 2016, they rebranded the platform as Grab. The following year, they acquired the Indonesian online payment startup Kudo, marking their entry into the payments industry. In March 2018, Grab made a major move by aquaring UBER's Southeast Asian operations. As part of the acquisition, Grab took over Uber's assets and operations in the region, including UberEats in Southeast Asia. This acquisition allowed Grab to enter the food delivery segment. Within the next few years, Grab launched its own e-scooter rental service, cloud kitchens, courier services, and expanded further into financial services, including insurance, loan services, bill payments, shopping, and even healthcare. Just like that, What started as a ride-sharing app in Malaysia in 2012 is now among the first successful super apps, offering services in 8 Southeast Asian countries. Today, Grab is a $25 billion publicly listed company with $2.5 billion in revenue, profitability! This success story teaches us that slow and steady expansion can also be an effective strategy.
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