Ron Burgundy Posted September 20, 2016 Share Posted September 20, 2016 By Aradhana Aravindan SINGAPORE (Reuters) - Grab, the biggest rival to ride-sharing service Uber Technologies Inc [uBER.UL] in Southeast Asia, has raised $750 million in a funding round, turning up the heat on the U.S. firm now seeking to expand in the region after exiting China. The successful cash-injection just a month after Indonesian peer Go-Jek raised $550 million highlights the intensifying competition in the region, as Uber shifts its focus following a deal to sell its China operations into Didi Chuxing. Four-year-old Grab said it planned to expand its services in Southeast Asia through the funding round, which was led by Japan's SoftBank Group with new and existing investors. View the full article Quote Link to comment Share on other sites More sharing options...
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