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Latest Stories and News
- Seeking Alpha
- 2 months ago
- Alibaba is mulling a $3B investment in Asian ride-hailing giant Grab with some of the money going toward purchasing a portion of Uber's stake.
- The deal would be one of Alibaba's largest bets in Southeast Asia and one of its rare brushes with the ride-hailing industry.
- Investing in Grab would give Alibaba access to a treasure trove of user data, a delivery fleet, and stakes in Grab's multiple side businesses, which include financial services.
- Grab, which was valued at $14B during its last private funding round, is feeling pressure from the coronavirus pandemic and competitor Gojek.
- SoftBank reportedly has its hand in the investment talks as a major ride-share backer and major Uber shareholder.