Grab-Altimeter’s mega merger fetches top dollar at steep valuation multiples

REUTERS/Iqro Rinaldi

It’s official. Southeast Asian ride-hailing super app Grab is merging with Altimeter Capital Management’s blank cheque firm in what is touted as the world’s largest SPAC merger to date.

The real eyebrow-raiser is Grab’s valuation ask of up to $40 billion, which represents a more than doubling of its last reported valuation of $16 billion from its previous fundraise. Grab’s PIPE raising process had reportedly seen strong demand and was filled up swiftly. Still, how does Grab’s valuation compare against other internet companies?

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