Grab News | Sep 05, 2024

Grab now allows users to send USDC (SPL) to their accounts for transport and food delivery payments...


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Name: Grab

Website: grab.com

Overview: Grab is Southeast Asia's leading superapp offering a suite of services like deliveries, mobility, financial services, and more. Guided by The Grab Way, their mission is to drive Southeast Asia forward by creating economic empowerment for everyone.


Updates as of September 05, 2024

  • Grab now allows users to send USDC (SPL) to their accounts for transport and food delivery payments.
  • Grab now supports Solana payments.
  • Grab now supports topping up wallets with stablecoins on Solana, Ethereum, and other chains via the SGQR payment system.
  • Grab launched Family Accounts for users in Vietnam on 26/08/24.
  • Grab plans to add over 1,000 BYD electric vehicles to its Indonesian fleet to expand its green mobility initiatives.
  • Grab launched the Family Account in Vietnam, allowing users to manage and pay for their family members' rides through the app.
  • Grab launched a new service called Pay Later, allowing customers to spread payments over four months with zero extra cost.
  • Grab is facing backlash for changing its fare structure, resulting in higher commissions for short-distance trips and lower commissions for long-distance trips, which has led to driver dissatisfaction and service issues.
  • Grab reported its second quarter 2024 results on August 15, 2024.
  • Grab's share price experienced contrasting fortunes as investors sought greater profitability.
  • GrabAds teamed up with Kantar to create a purpose-driven framework for winning on a Retail Media Network, led by Warish Jain, Regional Measurement Lead at GrabAds.
  • Grab formed a partnership with Richiamo Mart HQ to launch 20 outlets on the GrabMart platform by the end of this year.
  • Grab started charging a 1% fee on credit card reloads to its GrabPay Wallet from Sept 11, with certain Maybank credit cards exempted.
  • Grab entered the maps space.
  • Grab saw a record 41 million monthly users and over 50% growth in deposits for its digital banks in the latest quarter, while its attempt to acquire Trans-Cab was blocked by Singapore's competition regulator.
  • Grab's shares slumped after reporting quarterly revenue growth that missed estimates, highlighting intense competition in Southeast Asia.
  • The Singapore Parliament will soon debate the Platform Workers Bill, which could increase costs for Grab and other tech platforms by providing more legal protections for certain gig workers.
  • On August 8, 2024, Grab Holdings Limited will be involved in a court hearing in Los Angeles County regarding a motion to quash service of summons in the case filed by Global Pond USA Corporation.
  • Grab has rebranded its financial services from GrabFinance to GrabFin.
  • Grab will announce its 2024 Q2 results on August 15, 2024.
  • Grab in Singapore allows off-ramping USDT/USDC via Ethereum or Solana with a 2% markup.
  • Grab Finance partnered with Mitra Kembara to offer Grab drivers the opportunity to perform umrah.
  • Grab organized the 'GrabVN 10th Anniversary Football Championship'.
  • Daniel Lim has started as Head of Employer Branding & Recruitment Marketing at Grab.
  • Grab has updated its food delivery options, replacing several restaurants with new ones and adjusting delivery times and free delivery minimums.
  • Grab has removed the Group Order feature from its offerings.
  • Grab is hiring a Head of Market Insights for its Jakarta, Indonesia team, as announced by Nishant Gupta, Head of Analytics.
  • GrabDefence will attend 24Fintech in Riyadh from 3-5 September 2024.
  • On 2024-08-29, Grab will participate in The Big Leap Singapore to discuss marketing strategies on tight budgets.
  • Grab's Chief People Officer Chin Yin Ong announced that the company has been actively engaging employees in generative AI learning and experimentation, with over 1,000 participants regularly attending forums.
  • Grab delivery workers in Singapore are considering joining the NTUC to seek better representation and benefits.
  • GrabDefence, Grab's fraud and financial crime solution team, will be in Dubai on 11-12 September to discuss digital fraud, security, and identity collaborations.
  • Grab's Metrics platform team is expanding to Malaysia, building a central platform for high-quality, reliable metrics accessible to all Grab employees.
  • Grab is currently seeking an Organisation Change Lead in Malaysia.
  • Grab will impose a 1% fee on GrabPay Wallet credit card reloads starting September 11, 2024, with Maybank co-branded credit cards being exempt.
  • Grab announces an inaugural share repurchase program of up to $500 million.
  • Grab's stock fell 5.9% after its second-quarter revenue of $664 million missed estimates and its growth rate lagged behind Uber's.
  • Grab missed second-quarter revenue estimates due to a slowdown in its food-delivery segment and currency fluctuations but retained its full-year revenue forecast.
  • Grab implemented a push notification system to promote road safety by reminding passengers to wear seatbelts.
  • Grab reported a 17% year-over-year revenue growth to $664 million and improved its operating loss by $121 million to $(56) million in Q2 2024.
  • Superbank, a digital banking service by Grab, reached 1 million customers in under two months since its launch.
  • Grab disabled the smart contract wallet feature on the front end.
  • Grab's inbuilt wallet, powered by Polygon, allows users to receive tokens/NFTs created by Grab and send NFTs like coffee coupons to different wallets.
  • Grab added an 'I ❤️ SG' icon to its app to celebrate Singapore's National Day.
  • Grab used Slack automations to save thousands of hours each year.

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