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Hello reader,
A few months ago, I noticed that there was a new ad for Tada, a ride-hailing app in Singapore. I’d never used them before, but the ad certainly caught my attention because it was so upfront.
In it, Tada proudly declared that it was Singapore’s “second, sometimes third favorite ride-hailing app.”
Pretty hilarious, all things considered, but it also got me thinking. In Singapore, Grab has had such a stranglehold on the local market for years. Even old taxi operators like ComforDelGro, which launched its own ride-hailing app, haven’t really seemed to make a dent.
I personally like to switch over to Gojek sometimes because they offer more vouchers, but I know that can’t last forever either.
According to today’s story, there’s a similar situation happening in Malaysia, where other ride-hailing operators seek to break Grab’s grip on the market. Let’s take a look at how much of a chance they’ve got.
Today we look at:
- New ride-hailing challengers in Malaysia
- The potential IPO of Indonesia’s Superbank
- Other newsy highlights such as an Israeli startup’s US$36 million seed round and a new US$20 million fund for deeptech.
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Challenging Grab’s dominance
Image credit: Timmy Loen
In Game of Thrones, the titular throne is made up of the swords of the king’s slain enemies. If Grab were a king in the show, I wonder how many swords would make up its throne. For now, several new players have entered the game – we’ll see soon enough if they’ll take the throne or become part of it.
- New challengers have arrived: In November last year, Estonia-based Bolt launched its services in Malaysia, with Hong Kong-based Lalamove and homegrown player Kummute following suit.
- Good old days: While new and exciting, these entrants might not have the financial firepower to challenge Grab. Many of the opportunities Grab capitalized on in the past are no longer viable strategies.
- Inherent advantages: One way other players can get a leg up is by offering ride-hailing services as part of a wider ecosystem, such as what AirAsia is doing with AirAsia Ride.
Read more: The new ride-hailing players out to break Grab’s hold on Malaysia
Going super
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