Singapore Car Startup Seeks Value Over $1.5 Billion Ahead of IPO [BNN Bloomberg (Canada)]
Grab Holdings Limited (GRAB)
Company Research
Source: BNN Bloomberg
The company is speaking with investors for a pre-initial public offering funding round which could raise its valuation to more than $1.5 billion, Chief Executive Officer Aaron Tan said in an interview. The firm, which has about 4,500 staff and counts SoftBank Group Corp. as well as Singapore's GIC Pte and Temasek Holdings Pte among its investors, just posted its first annual operating profit. Carro, whose platform allows consumers and dealers to buy and sell vehicles, is trying to win over investors scarred by an implosion in startup valuations over the past two years. The Singapore-based startup is also operating in a highly competitive market, one that's resistant to change. Tan, who founded his startup in 2015 with two fellow Carnegie Mellon graduates, is betting on innovations to stand out from the pack. The CEO demonstrated a tool for instance he called the Shazam of engines, which analyzes the health of a second-hand car from the sound of its motor. And the startup offers a
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GRAB
Earnings
- 2/22/24 - Beat
GRAB
Sec Filings
- 4/8/24 - Form 144
- 4/1/24 - Form 6-K
- 4/1/24 - Form 6-K
- GRAB's page on the SEC website