The Clap👏
Shares of Grab Holding (NASDAQ: GRAB) fell more than 37% after the transportation & food delivery app reported losses of $1.1 billion in Q4-2021.
The deets🧐
The company saw a 52% growth in gross merchandise value (GMV) for delivery & an 11% decline in GMV for mobility, combining for a total 26% increase in GMV. GMV is the total users spent on the platform.
Despite the increase in use, actual revenue (money coming into the company) fell 44% as Grab is pouring money to attract more drivers ahead of an expected surge in demand as the effects of the pandemic fade.
Why this matters🤔
Grab is Southeast Asia’s biggest food-delivery & ride-hailing company, & has lost almost 80% of its market value since its IPO.
