Grab is one of the biggest consumer tech companies based out of Singapore which carries out daily lifestyle services via its super-app. Currently, it provides services across Southeast Asia, which include Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. Grab's ‘ecosystem’ started with ride-hailing and built its distribution over time, hence becoming the biggest fintech company in SEA, where daily transactions and activities can occur from a single application which has now become a Super-App.
Customer Growth Journey
They serve more than 187 million users in over 330 cities across eight countries with 25 million monthly active users. The average monthly transacting users stand at 24.1 million (as per 2021 reports).
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- Adjusted EBITDA $0.8 B
- In 2021, GMV grew to $16.1 billion, and Q4 GMV grew to $4.5 billion
- Revenue increased by 44% YoY to $675 million off the back of strong growth in deliveries and financial services
187 million super-app users, from booking services for taxis, car-pooling, shuttle services, bicycle-sharing, etc. to on-demand food delivery services, it has a lot to offer.
Engagement and Retention increase with Super-app
Because of the availability of numerous services in one place, customers are spending more and more time on the application, thereby increasing the retention rate of the application. The graph below shows how many customers are increasingly engaging with the super-app.
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“Southeast Asians are relying more and more on the Grab super-app for a multitude of daily needs. 56% of our users are now using two or more Grab services and the average user spending on our platform in 2021 grew 31% year over year. We expect 2022 to be another watershed year for Grab, as we get ready to launch our digibank in Singapore, and continue to pursue the massive opportunities in deliveries to outserve consumers with more options and better convenience.” Anthony Tan, CEO, and Co-founder of Grab. (Source: Article link)
The all-in-one super-app covers industries like food, e-commerce, laundry, pet care, dietitian app, fuel delivery, and many more. For better understanding, it can be divided majorly into four categories which include
- Merchants sell their products on the Super-app and make payments
- Entrepreneurs can grow their business on grab platform via ads and make money
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A WIN-WIN SITUATION!
The takeaway for us
Grab started as a single serving of ride-hailing to its customers. Now it has built an entire ecosystem with its Super-app. The application that provides all-in-one services has become a ‘go-to’ application for its users.
Grab is continuously serving its service quality to meet customer satisfaction which will lead to positive perception and attract more potential customers.
Building a Super-app is one of the best strategies that fintech and telco companies are adopting. It clearly indicates the next wave of Super-app for the coming generations.
Super apps are the way to go!