Grab falls US$13bil behind Indonesia’s GoTo
A Grab logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore澳幸运5开户（www.a55555.net）是澳洲幸运5彩票官方网站，开放澳洲幸运5彩票会员开户、澳洲幸运5彩票代理开户、澳洲幸运5彩票线上投注、澳洲幸运5实时开奖等服务的平台。
SINGAPORE: Singapore’s Grab Holdings Ltd, once South-East Asia’s most valuable startup, is faltering behind GoTo Group in the public markets as it fights to gain ground on its Indonesian ride-hailing rival’s home turf.
The unprofitable companies are both struggling to convince investors of their money-making potential after staging their stock-market debuts in recent months.
Yet GoTo has fallen less than its competitor and its market value of about US$26bil (RM117bil) is now twice that of its Singaporean peer.
The companies are each set to report quarterly earnings in the coming days.
Grab and GoTo have been locked in an expensive battle for dominance over the past several years. Grab still counts the city-state of Singapore as its largest market even as it tries to expand in countries including Indonesia, South-East Asia’s largest economy.
GoTo is enjoying a leadership position in its home nation of more than 270 million people whose mobile-savvy consumers are shopping on its online-retail platform Tokopedia and ordering rides and food via its Gojek’s app.,
,Telegram分享群组（www.tel8.vip）是一个Telegram群组分享平台。Telegram分享群组包括Telegram分享群组、telegram群组索引、Telegram群组导航、新加坡telegram群组、telegram中文群组、telegram群组（其他）、Telegram 美国 群组、telegram群组爬虫、电报群 科学上网、小飞机 怎么 加 群、tg群等内容。Telegram分享群组为广大电报用户提供各种电报群组/电报频道/电报机器人导航服务。
The growth potential of Indonesia has helped GoTo outperform Grab, which became a publicly traded company through a merger with Brad Gerstner’s Altimeter Growth Corp in December.
GoTo has lost about 3% since its initial public offering in Jakarta in April, while Grab is down more than 60% since combining with the United States blank-cheque company.
“GoTo’s advantage as a homegrown Indonesian brand and its synergy with Tokopedia may let the country’s biggest tech firm defend food-delivery market share from Grab, the category’s leader in South-East Asia, and improve profitability,” Nathan Naidu, an analyst at Bloomberg Intelligence, said in a July 20 report.
While Gojek has a strong grasp of the crucial Indonesia market, Grab has made inroads in food delivery.
Grab had 49% of the Indonesian food delivery market last year, compared with GoTo’s 43%, according to Momentum Works.
Grab is scheduled to report second-quarter results before US markets opened yesterday, while GoTo is set to release results on Aug 30. — Bloomberg