Grab has a 93 percent share of the Philippines' ride-hailing market, up from 45 percent when Uber was active. Grab would abide with its commitments to the regulator, its head, Brian Cu, told reporters.
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In a survey conducted in August 2021, a majority of respondents across all surveyed Southeast Asian countries chose Grab as their most used ride-hailing application. In Malaysia, Grab was chosen by 94 percent of the respondents.
As of 2022, Grab had over 160 million downloads across Southeast Asia and over 5 million drivers on its platform. The company's services extend beyond ride-hailing, including food delivery and financial services, and it has become a staple of everyday life for many people in the region.
Grab beat Uber as a top ride-hailing app as it strongly focuses on the local market and adopts a different culture and languages of the country they expanded their business into. This is a key strategy that helped Grab gain a lot more users and capture the market than Uber.
As of August 2019, among the leading five countries which have visited Grab.com, Singapore accounted for the largest share of the traffic, with 19.12 percent, followed by Indonesia, with 19.03 percent.
Singapore-based tech giant Grab is expecting to break even by Q3 of this year, on the back of strong demand and cost-cutting measures. It said its losses fell 74 percent to US$148 million in Q2. Meanwhile, its revenue increased by 77 percent year on year to US$567 million.
Serving over 500 cities in eight Southeast Asian countries - Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam - Grab enables millions of people everyday to order food or groceries, send packages, hail a ride or taxi, pay for online purchases or access services such as lending and ...
In 2022, small merchants on Grab saw a 26% increase in average monthly earnings after a year on the platform. Still, despite boasting over 32 million monthly users and expecting revenue of $2.2 billion in 2023, Grab has yet to turn a profit, with Tan expecting to finally break even by year's end.