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Daily Markup #798: Grab acquires Singapore’s 3rd largest taxi operator with over 2,500 cars to increase the speed you get a ride

August 1, 2023 · 1 min read
Credit: Straits Times

Grab gets more cabs

  • To keep up with demand for private rides in Singapore, 500-backed superapp Grab recently announced the acquisition of TransCab, Singapore’s 3rd largest taxi company, which has a fleet of over 2,200 taxis and 300 private-hire vehicles.
  • This will come under the Grab Rentals unit, and represents Grab’s first local taxi company acquisition.
  • TransCab was formed in 2000 under a Singapore government initiative to liberalize the transport industry, and within 10 years had overtaken government-backed SMRT Taxis.
  • What’s next? Grab plans to create an integrated app within the mobile display units in TransCab taxis to enable drivers “to manage their earnings and receive bookings from the Grab platform as well as Trans-Cab’s existing call center”. 
  • Grab is also exploring the installation of large screen displays in TransCab cars to integrate navigation, street-hailing, and its job queue all in one interface.
  • The move was supported by the National Taxi Association as well, with its adviser Yeo Wan Ling calling it “a significant development in the point-to-point transport industry”.
  • Read the full story on Straits Times.
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