Alibaba could invest $3bn in Grab  

September 25, 2020 | FinTech

Written by FinTech Alliance

Alibaba could invest $3bn in Grab  

Alibaba is in talks to invest up to $3bn in ride-hailing business Grab.  

In Brief:  

  • Alibaba will be the only investor in a funding round. 

  • It plans to acquire Grab stock from Uber.  

  • Grab has a valuation of $14bn and Uber owns a 27.5% stake.  

What does this mean?  

Grab has expanded its business from transport in recent years to financial services offerings and mobile payments, a fairly natural progression for the app-based business.  

The move has proven wise in the current climate where the ride-hailing market has taken a hit but many financial services have gone digital.  

Read more here.  

  

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