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Startups

Singapore's Grab faces latest test in Nasdaq debut

Big in Southeast Asia, the 9-year-old startup goes public in U.S. amid pandemic

Grab has been grappling with intensifying competition and the multiyear impact of the COVID-19 pandemic. (Photo by Dimas Ardian)

SINGAPORE -- Singapore's Grab will make its stock market debut in the U.S. on Thursday, marking a major milestone -- and the latest test -- for one of Southeast Asia's most important tech companies.

A "superapp" that offers services from ride-hailing to food delivery and mobile payments to millions of users, Grab has reported big losses for at least the last three years of its nine-year history. It has also been grappling with intensifying competition and the multiyear impact of the COVID-19 pandemic.

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