Toyota's Billion-Dollar Grab Deal

Toyota Motor Corp. is making the largest ever bet by an automaker on ride hailing as it embraces new businesses that threaten to disrupt the industry’s traditional model of vehicle ownership.The world’s most profitable car manufacturer is investing $1 billion in Singapore’s Grab Holdings Inc., valuing Southeast Asia’s largest car-hailing service at just over $10 billion, according to a person familiar with the transaction. It follows an initial investment last year through Toyota’s trading arm in the company that forced Uber Technologies Inc. out of the region. Toyota, the world’s most valuable carmaker with a market capitalization of about $221 billion, has sought partnerships with a pantheon of tech companies including Amazon Inc. and Apple Inc. in a bet that data will be a key part of its future. Toyota has also partnered with ride-hailing companies beyond Grab, taking an undisclosed stake in Uber in 2016 and announcing a collaboration with China’s Didi Chuxing in January. It has also backed Japan Taxi, an Uber rival run by the chairman of Tokyo’s biggest taxi operator. 

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The deal with Grab is one of Toyota’s largest investments outside of its core...Toyota is taking a board seat and will place an exec within Grab’s team — Grab said it’ll work on "mobility solutions,” a pretty nebulous term that basically means connected car tech, insurance, maintenance and more.Good deal

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Grab’s recent valuations:

September 2016: $3 billion
July 2017: $6 billion
June 2018: $10 billion

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Yep. Grab, headquartered in Singapore, is a leading player in the ride-share industry in Asia, and earlier this year agreed to acquire US giant Uber's regional operations...

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13 minutes ago, Blockchainbull said:

Isn't Daimler also playing this game in Europe with an Uber rival?

Yes Taxify raised $175m led by Daimler. 

Making Taxify one of the latest Unicorns for this year. They battle Uber primarily in Europe and Africa. 

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