SoftBank Group CEO Masayoshi Son said Monday the Japanese conglomerate will invest $2 billion in ride-hailing giant Grab, Reuters reported.
It wasn't immediately clear if the latest $2 billion investment was part of the previous sum announced in March.The startup, which is valued at $14 billion, plans to raise around $6.5 billion in total capital by the end of the year.
It started out with ride-hailing, but over time, Grab introduced other services including food and grocery delivery, mobile payment, and micro-lending to the unbanked or underbanked in Southeast Asia.Related Tags
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