Ride-hailing giant Grab to invest $2 billion into Indonesian business
SoftBank Chairman Masayoshi Son (R) and Grab CEO Anthony Tan (L) during the SoftBank World 2019 conference on July 18, 2019 in Tokyo, Japan. Photo: Tomohiro Ohsumi/Getty Images
Southeast Asian ride-hailing giant Grab said on Monday that it will use $2 billion of its funds from SoftBank to invest in developing transportation and other services, like healthcare, in Indonesia over the next five years.
Why it matters: For Japan-based SoftBank, this is a way to get even deeper investment into the Indonesian market. Chairman Masayoshi Son also said he plans on investing more funds into the online marketplace Tokopedia and look for additional investment opportunities in the country.