FILE PHOTO: A Grab logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore March 21, 2019. Picture taken March 21, 2019. REUTERS/Anshuman Daga
May 14, 2020
SINGAPORE (Reuters) – 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.
(Editing by Clarence Fernandez)
