Grab supremacy is facing challenge from local competitors

Grab’s green and white logo is everywhere across Vietnam’s big cities, a market of 96 million people in which the ride-hailing company was a pioneer and now dominates after buying control of Uber’s regional operations last year. The Singapore-based company is the largest ride-hailing group in south-east Asia, operating in eight regional countries and 336 cities after chasing Uber out last year in a deal that replicated the US group’s withdrawal from China. But Grab is facing a growing challenge to its supremacy in one of its fastest-growing markets in south-east Asia from local competitors — some of which also have regional ambitions. Regional arch-rival Go-Jek, which launched a motorbike taxi service in Vietnam last year, is planning to expand into taxis. FastGo, a Vietnamese ride-hailing start-up, said it had registered about 60,000 drivers in Vietnam, luring them with the offer of a flat fee rather than the percentage-based commissions Grab charges them… Be Group,another Vietnamese ride-hailing app, launched in December and aims to have more than 100,000 drivers signed up by the end of this year… Indonesia’s Go-Jek, Grab’s biggest competitor, is raising its own funds, in a round of undisclosed size led by its investorsincluding Google, and Tencent.
John Reed