SINGAPORE -- Singaporean startup Grab marked a net loss of over $1 billion for the fourth quarter of 2021 on heavy investment toward growth, showing that profitability remains a key challenge for the superapp operator as it faces strong competition.
Startups
Grab reports $1bn loss in Q4 on heavy incentive spending
Singapore tech group's first results since U.S. listing come as shares slump
A GrabFood rider in Kuala Lumpur. Grab aims to start a digital banking business in Singapore and continue pursuing opportunities in on-demand delivery. © Reuters
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