Based on estimates, Grab is valued at US$15 billion and Gojek is valued at US$10 billion. The rival companies are both loss-making and are two of Southeast Asia's most valuable start-ups.
Over the years, Grab has expanded from ride hailing to food delivery and even to payments (GrabPay). They have expanded rapidly over the years but it remains to be seen whether the various business ventures are profitable.
Just shortly after Covid 19, when its ride hailing business took a hit, its food delivery business saw increased volumes. However, that seemed to increase the rate of their cash burn as food delivery was not too profitable a business to be in.
Both Grab and Gojek refused to comment on the speculation though it was also reported that Grab's CEO Mr Anthony Tan had said in an internal note that they were in a good position to acquire.
Grab's last big acquisition was when it bought over Uber's Southeast Asia business with Uber taking a 27.5% stake in Grab. SoftBank was an investor in both Grab and Uber.
With any merger, Comfortdelgro might end up the loser as it has been facing intense competition ever since Grab began its operations.
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