How much money is Grab making?

Photo credit: Grab

GrabTaxi (recently renamed Grab) is becoming a household name among the tech savvy in Southeast Asia. At least in Singapore, it’s probably the best app for booking taxis.

Yet you wonder how long the good times will last. The startup – which covers the GrabTaxi, GrabCar, GrabBike, and GrabExpress services – is embroiled in a tough fight against Uber and Go-Jek for supremacy, which means spending lots of money to woo drivers and commuters.

It’s a well-worn tactic: raise more money than your competitors, and spend it all to attract customers. To hell with profitability.

The hope is that when the dust settles and the financing runs out, you will have a sizable market share on which to bolster your bottom line and build your empire.

Is Grab succeeding in this enterprise? And how does it make money? Let’s find out.

How big is the business?

In short, pretty big in terms of usage. Here are some numbers to chew on:

But first, how does it make money?

So, how much moolah is it making?

But is it profitable?

Can it ever be profitable?