Southeast Asia’s ride-hailing leader Grab is back in the money again after it closed $200 million in fresh capital from Booking Holdings.
The deal - which mimics Booking’s recent $500 million investment in China’s Didi - will lead to the two companies team up to offer reciprocal services. That’ll see Grab’s transportation services integrated into Booking’s apps and services with support for Grab Pay. On the other side, Grab said that Booking’s travel accommodation services will come to its app sometime in 2019, although Grab customers in “multiple markets” will get rewards and offers in the app before the end of this year.
The tie-in makes sense on both sides. Ride-hailing services are a prime channel for travel companies — Didi and Grab both dominate their respective markets, Grab claims over 110 million downloads — while the idea of pre-ordering a Grab to meet you after a flight has landed, or having one take you to your hotel will be logical for many.
Grab started out offering taxis, but it has since expanded to private car vehicles, motorbikes and a range of non-transportation services that include payments and food delivery.
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