Grab's Q4 net loss surpasses $1b as costs rise in "quarter of reinvestments"

Grab's Q4 net loss surpasses $1b as costs rise in "quarter of reinvestments"

Photo: Grab

Southeast Asian superapp Grab saw its net losses widen in the fourth quarter of 2021 as it spent more to attract drivers and consumers onto its platform. The Nasdaq-listed firm said it expects incentive costs to further rise as it hopes to draw drivers back to its ride-hailing business and maintain its market share.

In its first earnings call on Thursday since it went public, the ride-hailing and food delivery Southeast Asian company’s co-founder and chief executive Anthony Tan said the fourth quarter was a “quarter of reinvestments” for Grab, and expects this to continue in the next two quarters.

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