Grab is about to announce a new round of US $2 billion valuation of US $11 billion.

Grab is about to announce a new round of US $2 billion valuation of US $11 billion.

Sina Technology News Beijing time August 1st news, the Wall Street Journal today quoted a number of people familiar with the news that the Southeast Asian taxi service company Grab is about to announce a new round of about $2 billion in financing.

According to the people familiar with the matter, the current round of US $2 billion financing includes the $1 billion investment announced by TOYOTA. One of the people familiar with the matter also said that the new round of financing was valued at $11 billion for Grab.

Insiders say the financing will provide additional financial support for Grab to meet the challenges of its competitors. Grab's main competitor in the Southeast Asian car service market, including Go-Jek, the first "unicorn" technology company in Indonesia, has been invested by Tencent and Jingdong.

At the end of March this year, Uber announced the sale of Southeast Asian business to Grab. According to the agreement, Grab will integrate Uber's taxi business and meal service with its own business. At the same time, Uber will hold a share of Grab 27.5%.

But the deal was opposed by governments such as Singapore and Malaysia, fearing that Grab monopolized the local taxi service market.

Last month, Toyota announced a $1 billion investment in Grab and said it would cooperate in depth with MaaS in Southeast Asia.

Grab said this is the largest ever - ever investment in the car industry in Southeast Asia, which will help Grab expand the coverage of O2O business, including the takeout GrabFood and the electronic payment service GrabPay. (Li Ming)

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