Feb 25, 2020 - Economy & Business

Southeast Asian "super-app" Grab raises $856 million

Photo: Getty Images

Grab, a Southeast Asian "super-app" for everything from ride-hail to payments, raised $856 million from Japanese investors Mitsubishi UFJ Financial Group and TIS Inc.

Why it matters: This appears designed to help Grab maintain its market lead over rival GoJek — the companies were most recently valued at $14 billion and $9 billion, respectively — although comes less than 24 hours after a report about merger talks.

Extra intrigue: Gojek denied that the two sides are in negotiations, while Grab declined comment.

The bottom line: "Grab’s growth of its super app — in which it (like others pursuing a similar strategy) provides a one-stop shop for consumers to both see to their transportation needs, but also other aspects of their connected consumer life, such as eating, entertainment and managing their money — has involved the company partnering with a number of other financial giants," writes TechCrunch.

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Orion Rummler

Updated 27 mins ago - Health

Which states have set single-day coronavirus records this week

Data: COVID Tracking Project and state health department data compiled by Axios; Map: Danielle Alberti and Naema Ahmed/Axios

13 states this week surpassed records set just last week for their highest number of coronavirus infections in a single day, according to the COVID Tracking Project and state health department data. 16 states in total reported new highs.

The big picture: The United States' alarming rise in coronavirus cases isn't just due to increased testing — particularly where the number of cases has grown fastest over the last month, Axios' Andrew Witherspoon and Caitlin Owens report.

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Axios

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

Global: Total confirmed cases as of 6:30 p.m. ET: 12,389,660 — Total deaths: 557,279 — Total recoveries — 6,830,596 — Map.
U.S.: Total confirmed cases as of 6:30 p.m. ET: 3,169,611 — Total deaths: 133,885 — Total recoveries: 983,185 — Total tested: 38,856,341 — Map.
Public health: The reality of the coronavirus bites.
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🎧 Podcast: Rural America has its own coronavirus problem.

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Axios

2 hours ago - Health

Reality of the coronavirus bites

National Airport in D.C. Photo: Daniel Slim/AFP/Getty Images

It feels like mid-March in America again. The coronavirus is surging, deaths are climbing and the country is dreading a wave of disruptions, less than four months since the first round started.

The big picture: Lingering under all the happy talk of future plans is the reality of this virus — which thrives in potential super-spreader conditions like mass gatherings.