Jeffrey BAHAR’s Post

A Decade in the Making: Grab Celebrates Break-Even Milestone After 10 Years Grab's journey since its inception in 2012 has been nothing short of meteoric. Despite the challenging landscape of ride-hailing and food delivery, filled with fierce competitors, the Southeast Asian behemoth is now steering towards a significant financial milestone. The company recently made headlines by announcing its anticipation to break even in the third quarter, much ahead of its earlier forecast of the fourth. This evolution has not been without its trials. As with any booming start-up, Grab faced increasing losses, largely attributed to its aggressive expansion strategies and efforts to capture market share. The competitive environment, demanding the attention and loyalty of users, required significant investments. However, in a bold move this June, Grab realigned its focus, executing extensive cost-cutting measures, which included a reduction of over 1,000 positions. This decisive action, coupled with its Q2 performance that exceeded analysts' expectations, demonstrates Grab's resilience and adaptability. It's a testament to the company's vision, leadership, and commitment to not only grow but to do so sustainably. For those watching the tech and start-up space, Grab's story is an inspiring reminder that with the right strategies and timely decisions, companies can pivot towards profitability even in the most challenging of markets. #TedEZ #TedEZNews #eCom

The Grab experience is as much for drivers as it is for passengers and consumers on our platform. This is why we connect regularly with driver-partners to collect feedback that will help us constantly iterate and improve our services. Of their concerns, we found that earnings come up as key for driver-partners deciding if they want to spend time driving with us. Our solution: To support them in improving their productivity, so they can get more done and earn more at the same time. As each driver-partner becomes more productive, our existing supply pool of drivers is optimised—allowing Grab’s services to be more available and affordable for our consumers. Here's a round-up of the productivity tools we've developed: http://ms.spr.ly/6048ck0N6

The Grab experience is as much for drivers as it is for passengers and consumers on our platform. This is why we connect regularly with driver-partners to collect feedback that will help us constantly iterate and improve our services. Of their concerns, we found that earnings come up as key for driver-partners deciding if they want to spend time driving with us. Our solution: To support them in improving their productivity, so they can get more done and earn more at the same time. As each driver-partner becomes more productive, our existing supply pool of drivers is optimised—allowing Grab’s services to be more available and affordable for our consumers. Here's a round-up of the productivity tools we've developed: http://ms.spr.ly/6041idt1l

#IPMI what a blast! This was our first time exhibiting and I believe this experience has made me a better CEO. It helped me refine my pitch and better understand the needs of my ideal clients. 🚨Interesting Takeaway Alert!🚨 I learned that many municipality leaders and operators have had an issue with staffing; here was my question: "Do you have trouble finding an UBER or getting Doordash?" The answer was a resounding "No" every time. That's the market we're tapping into - those hard-working people who enjoy the freedom of gig work. Taggr can help you access these great people. Reach out and let's see how Taggr can solve your problems 🤜🤛 #ipmi2024 #parking #taggr

I am joined by Shin-pei Tsay, Global Head of Cities and Transportation policy at Uber, on the new episode of #InfrastructureMomentumMakers from Ansarada. Shin-pei works and thinks at every scale: from the tiniest of streets projects to deploying new mobility business lines in dozens cities globally - and back again. Hear our talk about her career, making transportation inclusive, and more below.

🚀 𝗕𝗶𝗴 𝗻𝗲𝘄𝘀 𝗳𝗿𝗼𝗺 𝗚𝗿𝗮𝗯 𝗛𝗼𝗹𝗱𝗶𝗻𝗴𝘀 𝗟𝘁𝗱.! 🎉 For the first time in a decade, Grab hit 𝗽𝗿𝗼𝗳𝗶𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆 on an adjusted basis, a true testament to their team's dedication and strategic pivot towards sustainable growth. Grab's Q3 earnings soared to $29 million in adjusted EBITDA, outpacing expectations. 💰 Despite the global economic headwinds, Grab's revenue jumped by 61% to $615 million. They're also seeing a record number of people using their platform, with 36 million monthly transacting users trusting Grab for their mobility and delivery needs. Looking ahead, they're not just aiming for profits - they're setting their sights on positive free cash flow by the end of 2024. 🚀 Read more: https://lnkd.in/gcBZfU5J #Grab #Profitability #Growth #Innovation #TechNews Nga (Nadya) Vu Patrick Nguyen 🥇

At our first Investor Day, our leadership team shared plans to leverage our superapp ecosystem advantage to become the region’s largest & most efficient on-demand platform enabling local commerce & mobility. Here’s a slice of some of the biggest topics from the day: 1. The Grab superapp ecosystem: - People like a “one-stop shop”: In Q2 2022, 62% of our users used two or more of our services, up from 12% in Q1 2018. - More jobs, more earnings in a day: 69% of our two-wheel partners did both rides & food deliveries in Q2 2022. - We offer users more value & benefits. Our GrabUnlimited monthly subscription gets you discounts across different services for one flat fee. 2. Accelerating our path to profitability as we continue to deliver strong growth: - We expect to breakeven on a Group Adjusted EBITDA basis by H2 2024. - In 2023, we expect revenues to grow strongly by 45-55% year-on-year on a constant currency basis, off the back of an already strong 2022 revenue outlook of $1.25B to $1.3B. - We are driving growth through strategic initiatives like GrabUnlimited, GrabForBusiness, groceries, local partnerships, & advertising. 3. Digibank 🏛 operations will break even by 2026: - We’ve just launched GXS Bank in SG. We’re looking to launch MY & ID digibanks next year. - Our learnings on lending behaviours on our superapp is feeding into our banking smarts: SEA's Micro SMEs & #gig workers are under-supported by conventional banks, but because we have data on their earnings & behaviour, we can extend more accurate credit to them. 4. New: Grab 🤝 Trans Retail - On-demand groceries in Indonesia: Grab is partnering with PT. Trans Retail Indonesia, one of ID’s largest hypermarket chains, with over 110 hypermarkets & supermarkets across 28 cities. - With Trans Retail, we’ll be scaling our on-demand grocery delivery offering by leveraging their huge retail footprint, warehouses, & purchasing power. - Grab’s services will be integrated into Trans Retail’s stores. 5. Improving driver-partner productivity & earnings: - Driver-partner levels are at ~77% of pre-pandemic levels. We’re rebuilding supply, & have added 26% more active drivers since a year ago. - Our tech is doing some smart magic in the background. In August, we saw a 22% reduction in wait time for delivery-partners, 19% more batch jobs, & 11% more trips per transit hour, compared to Q4 2022. 6. Onboarding more merchants: - To get merchants online quickly we halved the average onboarding time by developing self-serve tools & other automations. - We’re on track to onboard 40% more merchant-partners this year compared with 2020. 7. By the numbers: - 1 in 20 people in SEA eat, ride, or pay with Grab every month 🍽 🚗🧾 - In 2021, we generated US$8.9 billion in earnings for our driver-, delivery-, & merchant-partners. Up 24% from the year before. Watch the full webcast at http://ms.spr.ly/6043YuCBd

BIG NEWS! 🎉 Today we welcome Supantha Banerjee as our new Chief Operating Officer! ✅ Renowned tech exec ✅ Big brand experience   ✅ Customer-obsessed approach Welcome Supantha! Read all about it here 👉 tpi.co/COO #breakingnews #executiveleadership #COO #talent #technology #transformation 

Is the article sponsored by Grab? 😂 The Republic’s largest ride-hailing firm touches many aspects of our lives, so it is worth asking how much disruption we would face if it were ever to exit the market - author. In the first place - how did Grab end up in this dominant position? Do they have superior service and innovation or they simply squeezed out the competition as they have more investor cash to burn? And it is hardly a monopoly - we have gojek, ryde, tada in ride hailing; deliveroo for food delivery and many more names when it comes to digital banking. Having all these services under one brand does not make one a market leader 🙄 So the answer is a straight no - it is not irreplaceable and more competition/fairplay will only benefit consumers. #grab #digitaleconomy #singapore #rogerng #lbfalumni https://lnkd.in/g5AZVrK5

Defining a company's core values ensures that all employees are working toward the same goals with the same mindset. They shape the culture and ensure you have the right people on the team. They also drive the business forward. But they only work to do these things when employees truly believe and showcase them every day. At Virago, our values are: 👥Collective Collaboration: We leverage each other’s talents and generously contribute to uplift our community and empower client success. 🚀Growth: We are dedicated to innovation in all aspects of our operations to continuously improve. 💯 Accountability: We take ownership of delivering high-quality, reliable work. We are responsible to every stakeholder. These values shape how we operate as a company and partner with our clients. By putting our team first, we ensure customers benefit from our motivated, united team. Learn more about our team here: https://lnkd.in/eNFVYCJy #companyvalues #b2bmarketing #marketingexperts #transportationmarketing #supplychainmarketing