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Startups

Grab lowers 2021 earnings projection as COVID hobbles ASEAN

Singapore 'super app' gains 62% in GMV as net loss widens to $815 million in Q2

Grab says it remains on track to complete its merger with a blank check company and list in the U.S. by the end of the year. (Photo by Ken Kobayashi)

SINGAPORE -- Singaporean "super app" Grab on Tuesday cut its earnings projections for this year, citing uncertainties stemming from the prolonged COVID-19 crisis in Southeast Asia.

Grab is one of Southeast Asia's biggest tech startups. It offers delivery, ride-hailing, financial and a range of other services, and plans to go public in the U.S. later this year.

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