A startup called Grab is winning ride-hailing turf in Southeast Asia—home to 600 million people, almost double the population of the U.S. The startup serves more cities in the region than Uber and, according to mobile-app analytics firm App Annie, is beating the world’s most valuable startup in the race for users here.
The region’s ride-hailing market is forecast to grow more than five times to $13.1 billion by 2025 from $2.5 billion last year, according to a recent report on Southeast Asia’s internet economy conducted by Alphabet Inc.’s Google and Singapore state-investment firm Temasek Holdings.
There’s also a video, embedded at the top of the post, in the story, and online here. (You may recognize the narrator’s voice.)
I last wrote about Grab — previously known as GrabTaxi — when they teamed up with fellow ride-sharing firms Lyft and Ola, and when they raised new funds last year.