Grab raising $2b from SoftBank, Didi Chuxing at a $5b valuation, says WSJ

Grab raising $2b from SoftBank, Didi Chuxing at a $5b valuation, says WSJ

Grab taxi. Photo: Bloomberg

Grab, Uber Technologies Inc’s biggest rival in Southeast Asia, is raising as much as $2 billion in funding from Japan’s SoftBank Group and China’s top ride-hailing firm Didi Chuxing, the Wall Street Journal reported on Friday.

The deal, which could close in the next few weeks, would value Singapore-based Grab at more than $5 billion, the Journal reported, citing people familiar with the matter.

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