Southeast Asia’s Grab will offer mapping services to other profit-seeking companies

A Grab logo is pictured at the Money 20/20 Asia Fintech show in Singapore March 21, 2019. REUTERS/Anshuman Daga

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June 8 (Reuters) – Grab Holdings Ltd said on Wednesday it would offer its in-house mapping and geolocation services to businesses, as Southeast Asia’s No.1 public transport and food delivery company is in search of profit.

GrabMaps, an in-house mapping service used by the Singapore-based company’s drivers and delivery partners, is offered to businesses seeking hyper-local location solutions in densely populated Southeast Asian countries.

Grab, which operates in eight countries in the region and had nearly 31 million active monthly users as of March 31, is looking to cash in on Southeast Asia’s mapping business, which is expected to be worth $1 billion. here 2025.

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Indonesian carpooling and payment company GoTo Gojek Tokopedia (GOTO.JK) is Grab’s biggest competitor, followed by Singaporean e-commerce, gaming and digital payments company Sea Ltd (SE.N).

The loss-making company, which has spent money on promotional offers and incentives for drivers, said it expects the reopening of offices and the resumption of travel to lead to a rebound in its ride-sharing business and food delivery. Read more

(This story corrects last paragraph to remove the word “priorities”)

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Reporting by Sameer Manekar in Bengaluru; Editing by Vinay Dwivedi

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