'GrabFood is not profitable and we don’t 'earn' the full commission we receive.'
The remaining revenue from commissions is used to cover operating costs such as delivery riders' insurance, cashless payment transactions, product improvements and customer service.
It added that since the circuit breaker kicked in, it has signed on more than 1,000 new riders, and added more than 180 new restaurants to its platform.that its commission rates, which range between 30 and 35 per cent, are offered based on factors such as brand equity, number and location of outlets, cuisine type and average basket size.
Grab said that it understands the current food-delivery model is"not perfect", and that the cost to serve each order is high.
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