Grab and Gojek are the top-two startup brands in South-East Asia, valued at US$14bil (RM58.50bil) and US$10bil (RM41.79bil), respectively, according to sources. They compete in a host of areas including financial services, e-commerce, ride-hailing and food delivery. — Bloomberg
JAKARTA: SoftBank-backed ride hailer Grab is in talks to merge OVO, an Indonesian digital payments firm in which it owns shares, with an Ant Financial-backed local peer to build heft and power ahead of archrival Gojek, people familiar with the matter said.
A deal would see Singapore-based Grab buy a majority interest in Ant-backed DANA from Indonesian media conglomerate Elang Mahkota Teknologi (Emtek) and merge it with OVO, they said.
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