Southeast Asia is home to several so-called “super apps”–apps that you can do everything in from order groceries to be delivered to your door to managing financial services. One of the most popular such superapps is Grab, which is finally going public today. Here’s what you need to know:
- What is Grab? It’s a superapp with over 670 million users in Southeast Asia. It operates in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam across 465 cities. Grab was founded in 2012. It’s a rideshare, food delivery, e-wallet app, and more all rolled into one.
- How is Grab going public? Grab will go public today via an SPAC, not a traditional IPO. A SPAC is essentially a shell company already listed on the stock market that acquires another company as a roundabout way of taking that company public.
- What market will Grab trade on? Grab will trade on the Nasdaq beginning today, December 2, 2021.
- What will Grab’s stock ticker be? Grab will trade under the symbol “GRAB.”
- Anything else I should know about Grab’s public debut? According to Grab’s press release, the company’s Nasdaq debut will be the “largest-ever U.S. public market debut by a Southeast Asian company” and have its Nasdaq bell-ringing ceremony held in Singapore–a first for Nasdaq.