Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Want a daily digest of the top Nashville news?
Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.
Want a daily digest of the top Columbus news?
Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.
Want a daily digest of the top Dallas news?
Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
Courtesy of Grab
Grab, Uber's biggest rival in Southeast Asia, announced that it has raised $2 billion in new funding from existing investors SoftBank and Didi Chuxing, China's biggest ride-hailing company. The Singapore-based company adds that it could soon raise an additional $500 million from new and existing investors. At the close of the round, Grab's post-money valuation will be above $6 billion, a source tells Axios.
Ride-hailing web: A growing number of ride-hailing companies around the world are inking investor relationships. In addition to Grab, Didi Chuxing has invested in India's Ola, Latin America's 99, and Lyft in the U.S. It also has a stake in Uber thanks to its merger last year with the company's Chinese business.
Competition: Although Grab says it has 95% of the third-party taxi-hailing market in Southeast Asia and 71% of the market for private vehicle hailing, it nevertheless competes with Uber as well as Go Jek, a local ride-hailing company. Go Jek, which is backed by Lyft investor KKR, is rumored to be finalizing a $1 billion-plus round led by China's Tencent.