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Companies

Grab leans on Tencent and Amazon in rush to turn profit

Singaporean superapp cuts sales promotions to focus on monetization

Grab scored a coup by being featured as a miniprogram on the WeChat app.   © Reuters

SINGAPORE -- Singapore-based superapp Grab has formed tie-ups with fellow tech giants Amazon.com and China's Tencent Holdings, hoping to generate extra revenue needed to achieve a profit by the end of the year as promised to increasingly impatient investors.

A tourist from China arriving at Singapore's Changi Airport can now call for a ride by pressing the Grab icon embedded in WeChat, the all-purpose messaging app from Tencent. The Grab miniprogram prompts the user in Chinese to enter the destination.

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