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Online Travel

Southeast Asian Superapp Grab to Go Public With Altimeter at $40 Billion Valuation

Dennis Schaal photo
Dennis Schaal

Photo Credit: Riders pictured in a Grab Taxi. The company would go public in a merger with blank check company Altimeter Growth Corp. 2. Grab Singapore

Skift Take

The Grab-Altimeter Growth Corp. 2 merger immediately becomes one of the highest profile such transactions in travel. Grab already dominates its superapp sector in Southeast Asia, and the funding infusion should help it get stronger.

Grab, the Singapore-headquartered superapp that evolved from ridesharing into food delivery and financial services, is jumping on the blank check bandwagon with a merger with Altimeter Growth Corp. 2 at around a $39.5 billion valuation. The deal, according to CNBC, is the largest merger for a special purpose acquisition company to date. Softbank, along with Uber, are major Grab investors. When the merger is complete, Grab will trade on Nasdaq under the GRAB symbol. Special purpose acquisition company Altimeter Growth Corp. 2, which is chaired by longtime travel and tech investor Brad Ger

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