SINGAPORE: Overall revenues of Southeast Asian firm Grab have dropped since the coronavirus pandemic began, dragged down by the core ride-hailing business, the company’s co-founder said on Thursday.
Tan Hooi Ling said the SoftBank-backed private firm had seen an uptick in its food delivery business but its total revenue was “lower than it used to be pre-Covid”, referring to the respiratory disease caused by the virus.
The firm was preparing for “a potentially long winter”, and taking measures to be more efficient and conserve cash, Tan added. – May 14, 2020, Reuters
