This article originally appeared at Tech In Asia.

  • grabtaxi raises $250 million

    Southeast Asia’s leading transportation app GrabTaxi now has new ammunition to battle against Uber and Go-Jek. The Singapore-headquartered startup has raised US$400 million in a round led by China Investment Corp (CIC), China’s sovereign wealth fund, according to theWall Street Journal.

    CIC, a big investor in commodities, is putting more money into startups lately. The US$740 billion fund has backed Didi Kuaidi, GrabTaxi’s equivalent who is leading the Chinese market. Didi Kuaidi is said to be worth US$15 billion.

    With the new round, GrabTaxi is said to be worth between US$1.6 billion and US$1.8 billion post-money. Go-Jek, which is leading GrabTaxi in Indonesia in on-demand motorbike transportation, recently pulled a PR stunt by hiring 16,000 drivers at a sports stadium.

    GrabTaxi, meanwhile, has been aggressively poaching Uber drivers over to its platform. Its product team appears to be underperforming though, with its app widely perceived as being inferior to Uber’s. This perception wasn’t helped by news of its high-profile CTO’s departure after just one year at the helm.

    Tech in Asia is reaching out to GrabTaxi for comment. The company will release a full statement shortly.

    Source: The Wall Street Journal




    About The Editor-In-Chief of Think Philippines!

    1
    Edwardo Miguel Guevarra Roldan

    • Managing Partner at Princeton Business Initiative
    • Lead Convenor of Isang Samahan, Isang Pilipinas (ISIP) and Think Philippines!
    • Agency Manager at Fortune CARE Health Maintenance Organization (HMO)
    • Financial Wealth Planner at FWD Life Philippines
    • Financial Investment Advisor at Rampver Strategic Advisors

    (+63) 927 646 0088 WhatsApp/Viber/Philippine Mobile Number

    edwardomiguelroldan@gmail.com

    http://www.fb.com/ThinkPhilippinesBlog

    Note :

    To post articles here at Think Philippines, you may email it to: isangsamahanisangpilipinas@gmail.com or by simply commenting it on the field provided below.

    Thank you for supporting us

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s