News Tech: Aug 25 (Reuters) – Singapore’s Grab Holdings Ltd reported a 79% rise in quarterly revenue on Thursday, powered by a surge in demand for rideshare as offices reopen across Southeast Asia.
Grab said gross merchandise volume (GMV), a measure of transaction volume, rose 30% in the second quarter, driven largely by the strength of its delivery business.
Grab’s investments in promotions for users and incentives for drivers paid off, and was helped by offices reopening, raising demand for rideshare in most major cities.
Revenue at the Rideshare business rose 40% while that of Deliveries tripled.
Source: Reuters Trust Principles.