Saturday, February 23, 2019

Grab is the 2nd Most Innovative Company in 2019

Apple was the most innovative company in Fast Company's most innovative companies for 2018. This year, Grab is ranked 2nd and Apple is ranked 17th. The top spot goes to Meituan Dianping, a Chinese company that offer multiple service in a platform such as food, hotel stays and movie ticket.

Fast Company stated that Grab is highly rated due to its grand expansion out of ride hailing into food delivery, travel booking and e-wallet.

Anthony Tan, founder of Grab / South China Morning Post

Grab, formerly known as MyTeksi, was conceived when Anthony Tan and Hooi Ling were attending Harvard MBA class, according to South China Morning Post. Uber and Didi Chunxing were the dominant ride hailing companies at the time. Anthony and Hooi Ling founded that passenger safety is a concern and launched Grab to address this issue.

Grab allowed passengers to share the progress of rides with friend or family member.

Grab has fought Uber to lead Southeast Asia's ride hailing market. According to Forbes, Grab is worth over US$10 billion.

In South China Morning Post, Anthony expressed his gratitude to his mother for supporting and investing several millions into the venture, even though his father, the president of Tan Chong Motor dismissed the idea.

Currently, Grab is backed by Softbank, Didi Chuxing, HSBC and Toyota.

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