Grab Holdings: From SPAC Bubble to Profitable Super App Pioneer with Robotaxis

After the disaster at its stock market debut, Grab's super app is not only conquering the Southeast Asian market but also gradually regaining investor confidence. Grab went public on Nasdaq in December 2021 through what was then the largest SPAC deal in the world. At the time of its stock market debut, Grab was valued at around $40 billion – extremely high given its revenue of $675 million and a loss of $3.5 billion. Nonetheless, many investors bought the stock during the hype of the super app story. Shortly after, the company and its investors...