By Reuters Staff
4 Min Read
SINGAPORE (Reuters) - Grab, Southeast Asia’s biggest ride-hailing and food delivery firm, is going public in the United States via a merger with special-purpose acquisition company Altimeter Growth Corp securing a valuation of nearly $40 billion.
FILE PHOTO: A Grab logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore March 21, 2019. Picture taken March 21, 2019. REUTERS/Anshuman Daga/File Photo
The deal is set to be the world’s biggest ever by a blank check company.
WHAT IS GRAB?
Founded in 2012, Grab is Southeast Asia’s largest startup and was valued at just over $16 billion last year. It launched as a Malaysia taxi-hailing service and has since expanded into food, grocery and parcel delivery to digital payments, lending and other financial services, calling itself a superapp.
SINGAPORE - South-east Asia’s largest ride-hailing and food delivery firm Grab Holdings is set to announce later on Tuesday (April 13) a merger with US-based Altimeter that is set to value Grab at nearly US$40 billion (S$53.6 billion) and lead to a US public listing, three people told Reuters. The merger will make it the biggest blank-cheque company deal ever..
Grab set to announce deal with U S SPAC at $40 billion valuation msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Historic Boom For India Tech As Six Startups Become Unicorns In Four Days Historic Boom For India Tech As Six Startups Become Unicorns In Four Days It was an historic week for India s technology industry. In the space of four days, the country minted at least six new startups with a valuation of $1 billion or more.
Updated: April 12, 2021 10:34 am IST
It was an historic week for India s technology industry. In the space of four days, the country minted at least six new startups with a valuation of $1 billion or more what techies call unicorns because they re supposed to be such rarities.
Nvidia to Make Server Processor, Targets Intel Profit Center Bloomberg 3 days ago Ian King
(Bloomberg) Nvidia Corp. unveiled its first server microprocessors, extending a push into Intel Corp.’s most lucrative market with a chip aimed at handling the most complicated computing work. Intel shares fell about 4% and Nvidia jumped on the news.
Nvidia’s stock rallied further, to a gain of about 6%, after the company said first-quarter revenue “is tracking” above its previous forecast.
The graphics chipmaker has designed a central processing unit, or CPU, based on technology from Arm Ltd., a company it’s trying to acquire from Japan’s SoftBank Group Corp. The Swiss National Supercomputing Centre and U.S. Department of Energy’s Los Alamos National Laboratory will be the first to use the chips in their computers, Nvidia said Monday at an online event.