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Grab in S-E Asia start-up driver's seat
Firm's Spac deal also a win for region and other tech companies hoping to list, say observers
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Grab co-founders Tan Hooi Ling (left) and Anthony Tan at the company's fifth anniversary celebrations in 2017. The company put its name in the record books last week when it announced plans to list on American technology-heavy index Nasdaq through a reverse merger with United States-based Altimeter Growth Corp, in a deal which would give the super app a market value of around US$40 billion.
PHOTO: GRAB
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The idea for Singapore-headquartered Grab Holdings first took root in 2011 when co-founders Anthony Tan and Tan Hooi Ling came up with the mobile app MyTeksi while at Harvard Business School (HBS).
The app's mission was to deliver safe and reliable taxi rides and connect drivers with customers, but it fell short in the HBS New Venture Competition that year, although the pair took the US$25,000 (S$33,200) grant they won as a runner-up and put it towards MyTeksi, which launched in June 2012.
