SINGAPORE -- Southeast Asia is enjoying a technology boom. Grab's record blank-check deal with a special purpose acquisition company, which will value the business at nearly $40 billion, rings in a new era for a region whose tech industry has trailed behind Asian peers including China and India.
Grab, which offers ride-hailing, deliveries and financial services, will join Sea Group, the Tencent-backed ecommerce and gaming group, in being listed in the U.S. Sea, also headquartered in Singapore, was one of the best-performing stocks globally in 2020 thanks to its surging Shoppee online commerce platform.
