{"id":132,"date":"2021-01-19T00:00:00","date_gmt":"2021-01-19T00:00:00","guid":{"rendered":"https:\/\/markupbackup.wordpress.com\/2021\/07\/21\/durians-daily-175-this-app-was-built-to-create-a-safer-way-to-get-a-ride-in-malaysia\/"},"modified":"2021-08-03T09:08:19","modified_gmt":"2021-08-03T09:08:19","slug":"durians-daily-175-this-app-was-built-to-create-a-safer-way-to-get-a-ride-in-malaysia","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=132","title":{"rendered":"Daily Markup #175: This app was built to create a safer way to get a ride in Malaysia. Today, it plans to help people in Southeast Asia thrive."},"content":{"rendered":"<p><strong>An app that delivers<\/strong><\/p>\n<ul>\n<li>Co-founder and Chief Operating Officer of 500-backed super app <a href=\"http:\/\/grab.com\" target=\"_blank\" rel=\"noopener\">Grab<\/a>, Tan Hooi Ling, was <a href=\"https:\/\/www.businessinsider.com\/grab-coo-cofounder-on-growth-from-a-ride-hailing-service-to-a-super-app-2021-1\" target=\"_blank\" rel=\"noopener\">interviewed<\/a> on Business Insider about the startup\u2019s journey and where it plans to head next.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1000\" data-height=\"751\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7db3c76bbb.jpg\"><figcaption class=\"wp-caption-text\">Credit: Grab<\/figcaption><\/figure>\n<ul>\n<li>First launched as a taxi-booking app in Malaysia, it has evolved into becoming the first super app in Southeast Asia, with services in delivery and digital banking.<\/li>\n<li>The 8-year-old startup is now <a href=\"https:\/\/www.businessinsider.com\/grab-coo-cofounder-on-growth-from-a-ride-hailing-service-to-a-super-app-2021-1\" target=\"_blank\" rel=\"noopener\">considered<\/a> to be Southeast Asia\u2019s most valuable startup, with a 2019 valuation of US$14 billion.<\/li>\n<li>The brainchild of Hooi Ling and fellow founder Anthony Tan, Grab was born to solve a problem often faced by their friends and family: getting a taxi safely, especially for women at night. At the same time, new income opportunities were created\u200a\u2014\u200afor single moms looking for flexible part-time work or differently-abled individuals who struggled to find regular work.<\/li>\n<li>These days, the startup focuses on solving the financial inclusion gap in the region. Hooi Ling <a href=\"https:\/\/www.businessinsider.com\/grab-coo-cofounder-on-growth-from-a-ride-hailing-service-to-a-super-app-2021-1\" target=\"_blank\" rel=\"noopener\">shared<\/a> that an estimated 70% of Southeast Asia\u2019s population are unbanked and invisible to traditional banking institutions. \u201cAs they cannot get access to credit or other financial services, they get trapped in a vicious cycle that makes it hard for them to break out of poverty,\u201d she explained.<\/li>\n<li>What the app grew into today was not part of the plan. It is the result of a constant dedication to problem-solving. \u201cWhile developing our transportation solutions, we discovered that millions of Southeast Asians still didn\u2019t have the right access to basic services like banking and financial services,\u201d Hooi Ling said. \u201cThat\u2019s why we launched Grab Financial Group. Becoming a super app was thus a means to an end\u200a\u2014\u200ato help provide as many solutions to our customers in the most convenient form for them.\u201d<\/li>\n<li>On the effects of the pandemic on the business, Hooi Ling saw a silver lining\u200a\u2014\u200athe acceleration of digitalization, with many sectors that have been resisting going digital compelled to do so to survive.<\/li>\n<li>\u201cWe brought nearly 600,000 new merchants across SEA online onto our platform last year, which more than doubled the number of merchants on Grab,\u201d she shared. \u201cThese include hawkers, wet markets, and many other traditional businesses. Our priority now is to build on this momentum. We want to help more SMEs and traditional businesses embrace the full potential of digital transformation.\u201d<\/li>\n<li>What\u2019s next for the startup? According to Hooi Ling, they\u2019ve only just scratched the surface. Grab will stay focused on Southeast Asia, using technology to continue uplifting millions of lives and building a more inclusive digital economy.<\/li>\n<li>The startup expects deliveries to continue being an important service for most even after the pandemic is over. It plans to double down on deliveries across food, groceries and logistics. It will also invest in its merchant services platform to help merchants go online while helping them earn more and reducing their operating costs in this new normal.<\/li>\n<li>Read the full interview <a href=\"https:\/\/www.businessinsider.com\/grab-coo-cofounder-on-growth-from-a-ride-hailing-service-to-a-super-app-2021-1\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<hr>\n<p><strong>Missed out the last Daily Markup? Go <\/strong><a href=\"https:\/\/dailymarkup.com\/\" target=\"_blank\" rel=\"noopener\"><strong>here<\/strong><\/a><strong> to check it out.<\/strong><\/p>\n<p><strong>You can also find us on <\/strong><a href=\"https:\/\/www.linkedin.com\/company\/500-durians\/\" target=\"_blank\" rel=\"noopener\"><strong>LinkedIn<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/www.facebook.com\/500durians\/\" target=\"_blank\" rel=\"noopener\"><strong>Facebook<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/twitter.com\/500Startups_SEA\" target=\"_blank\" rel=\"noopener\"><strong>Twitter<\/strong><\/a><strong>, and <\/strong><a href=\"https:\/\/www.instagram.com\/500durians\/?hl=en\" target=\"_blank\" rel=\"noopener\"><strong>Instagram<\/strong><\/a><strong>.<\/strong><\/p>\n<figure><img decoding=\"async\" data-width=\"400\" data-height=\"400\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7db3cd6edb.jpg\"><\/figure>\n<p>500 Startups is a venture capital firm on a mission to discover and back the world\u2019s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.<\/p>\n<p><em>This post is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively \u201c500 Startups\u201d) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Startups and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Information about portfolio companies\u2019 markets, competitors, performance, and fundraising has been provided by those companies\u2019 founders and has not been independently verified. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Startups, or an offer to provide any investment advisory service with regard to securities by 500 Startups. No content or information in this post should be construed as an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups. Prospective investors considering an investment into any 500 Startups fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. One or more 500 Startups fund may have a financial interest in one or more of the companies discussed.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An app that delivers Co-founder and Chief Operating Officer of 500-backed super app Grab, Tan Hooi Ling, was interviewed on Business Insider about the startup\u2019s journey and where it plans to head next. Credit: Grab First launched as a taxi-booking app in Malaysia, it has evolved into becoming the first super app in Southeast Asia, [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":2090,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[322],"tags":[143],"class_list":["post-132","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily","tag-grab"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Markup #175: This app was built to create a safer way to get a ride in Malaysia. 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