“Grab Holding, Largest food delivery firm is about to announce a collaboration with U.S Based Altimeter. The value of the collaboration is nearly $40 Billion.” Reuters gets a report.
Biggest Blank-check Deal Ever!
The reason behind Grab agrees with SPAC (Special Purpose Acquisition Company) includes $4 public investment as equity. The people from a group of asian and global investors that includes Fidelity International and Janus Henderson.
An extra fire-power is given by U.S Listing in it’s main market. Indonesia, Gojek river is close to sealing a merger with the country’s leading E-commerce business Tokopedia.
Grab did not pass any comment on this. No response from Silicon Valley based Altimeter to an emailed request for comment. Two Fund manager also did not respond to it. Due to sensitivity of matter, sources declined to identify the matter.
Two sources claims that, “nearly $40 billion valuation is based on a proforma equity value”. With operations in eight countries and 398 cities, Grab is already Southeast Asia’s most valuable start-up.