SHANGHAI — As Uber and Lyft prepare to become the world’s first publicly traded ride-hailing companies, their peers overseas are continuing to raise huge amounts of money through private investments. Grab, which is based in Singapore and serves eight countries in Southeast Asia, announced on Wednesday that it had secured nearly $1.5 billion from the SoftBank Vision Fund, the technology investing arm of the Japanese conglomerate. With this latest funding, Grab said it had raised more than $4.5 billion in its current financing round from investors that include Toyota, Hyundai, Microsoft and Booking Holdings, the online travel services company. Grab is now valued at around $14 billion, according to a person briefed on the matter who was not authorized to speak publicly.

Source: New York Times March 06, 2019 05:49 UTC