Grab to deliver for MatahariMall
In this article (5)
Taxi and ride app service Grab has formed a strategic partnership with one of the Indonesia’s largest conglomerates to provide logistic services for online shopping.
It has signed up with Lippo Group’s MatahariMall, launched last year at a cost of $500 million
– the largest eCommerce investment in Indonesia. A competitor to Sequoia-backed Tokopedia, MatahariMall is aiming for $1 billion in sales within its first few years.
Formerly under the Singapore brand GrabTaxi, the company rebranded in January to reflect its extra services, including deliveries, beyond its original licensed taxi service.
“Technology can be a key driver of economic growth, and we are both invested in opening the digital economy to all Indonesians,” says Grab co-founder/CEO Anthony Tan of its deal with Lippo.
Backed by investors like Didi Kuaidi (China’s largest ride app), GGV Capital and SoftBank, Grab is reportedly valued at more than $1 billion. Its rivals include Uber and Indonesia-based Go-Jek, both of which are also entering the delivery/logistics space.
Questions & Answers
Q.What kind of services does Grab offer besides ride-hailing?
What kind of services does Grab offer besides ride-hailing?
Grab has expanded its offerings beyond its original licensed taxi service. The company now provides extra services, including deliveries, which is reflected in its recent rebranding from GrabTaxi.
Q.What is the financial target for MatahariMall in its early years?
What is the financial target for MatahariMall in its early years?
MatahariMall aims to achieve $1 billion in sales within its first few years of operation. This target reflects its ambition to be a major player in the Indonesian e-commerce market.
Q.Which companies are Grab's main competitors in the region, particularly in logistics?
Which companies are Grab's main competitors in the region, particularly in logistics?
Grab faces competition from Uber and Indonesia-based Go-Jek. Both of these rivals are also actively expanding into the delivery and logistics space, similar to Grab's new partnership with MatahariMall.
Q.Who are some of the key investors supporting Grab?
Who are some of the key investors supporting Grab?
Grab is backed by several prominent investors, including Didi Kuaidi, GGV Capital, and SoftBank. These investments have contributed to Grab's reported valuation of more than $1 billion.