Southeast Asia’s biggest ride-hailing and delivery firm Grab will list on Dec 2nd on Nasdaq，Anyone excited for @GrabSG's public listing debut via SPAC today?
Can A $40b valuation for Grab easily put the price to at least $30 opening today？
Usually factors that affect the stock price include the company's book value, operating performance, development prospects, number of shares issued, industry characteristics and market fluctuations, etc.
Please Mark your Prediction below~
News backgroud:
Grab Starts Trading Thursday On Nasdaq As Altimeter Shareholders Approve SPAC Deal.
Grab Holdings will start trading on the Nasdaq on Thursday after Altimeter Growth Corp.’s shareholders approved the merger with Southeast Asia’s superapp giant, completing one of the world’s biggest transactions involving a special purpose acquisition company, or SPAC.
The deal, which values Grab at $40 billion, was approved by Altimeter’s shareholders on Tuesday, Altimeter said in a statement. Grab cofounders Anthony Tan and Tan Hooi Ling (no relation) will ring the Nasdaq opening bell from Singapore, where the company is headquartered.
About Financial Data,
In September, Grab cut its full-year adjusted net sales forecasts, citing renewed uncertainty over pandemic curbs on movement.
Third-quarter revenue fell 9% and its adjusted loss before interest, taxes, depreciation, and amortisation (EBITDA) widened 66% to $212 million. Grab said GMV jumped 32% in the quarter to a record $4 billion.
It aims to turn profitable on an EBITDA basis in 2023.
Grab said it completed its business combination with the SPAC, Altimeter Growth Corp. Grab will begin trading on Nasdaq under the ticker symbol “GRAB.”
Grab raised $4.5 billion alongside the SPAC transaction, including $750 million from Silicon Valley tech investor Altimeter Capital Management in a deal in April.
Some milestones for the Singapore-headquartered company:
- 2011: Anthony Tan and co-founder Tan Hooi Ling create Grab in a Harvard Business School venture competition plan
- 2012: Launches as MyTeksi taxi booking service in Malaysia
- 2013: Expands to the Philippines, Thailand, Singapore as GrabTaxi
- April 2014: Announces Series A funding
- June 2014: Launches in Indonesia
- December 2014: Japan’s SoftBank invests $250 million in a funding round
- August 2015: Becomes a unicorn after $350 million funding round
- December 2015: Announces a strategic partnership with other ride-hailing companies Ola, Didi, and Lyft that competed against Uber
- January 2016: Rebrands to Grab from GrabTaxi to reflect expanding services
- November 2017: Launches GrabPay payments service for third-party transactions
- March 2018: Announces acquisition of Uber’s business in Southeast Asia through an all-share deal, Uber becomes a strategic shareholder
- May 2018: Pilots GrabFood delivery service
- July 2018: Unveils “superapp” strategy that provides a range of services under one platform
- March 2019: Reaches valuation of about $14 billion
- December 2020: Wins digital full bank license in Singapore in a partnership with Singapore Telecommunications Ltd
- April 2021: Agrees to list on Nasdaq through a merger with special-purpose acquisition company Altimeter Growth Corp securing a valuation of nearly $40 billion.
About Grab:
Grab is Southeast Asia’s leading superapp based on GMV in 2020 in each of food deliveries, mobility and the e-wallets segment of financial services, according to Euromonitor. Grab operates across the deliveries, mobility and digital financial services sectors in 465 cities in eight countries in the Southeast Asia region - Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Grab enables millions of people each day to access its driver- and merchant-partners to order food or groceries, send packages, hail a ride or taxi, pay for online purchases or access services such as lending, insurance, wealth management and telemedicine, all through a single “everyday everything” app. Grab was founded in 2012 with the mission to drive Southeast Asia forward by creating economic empowerment for everyone, and since then, the Grab app has been downloaded onto millions of mobile devices. Grab strives to serve a double bottom line: to simultaneously deliver financial performance for its shareholders and a positive social impact in Southeast Asia.
About Altimeter:
Altimeter Capital Management, LP is a leading technology-focused investment firm built by founders for founders with over $15 billion in assets under management. Altimeter’s mission is to help visionary entrepreneurs build iconic companies, disrupt markets and improve lives through all stages of growth. Altimeter manages a variety of venture and public funds and serves as an expert long-term partner to companies as they enter the public markets.
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