Grab eyes S$1.4b Southeast Asian market in push to sell mapping data to other firms, govt agencies
SINGAPORE — Technology giant Grab Holdings is looking to sell the location-based services and mapping data it has amassed from consumers, in a bid to tap into a market that it estimated is worth US$1 billion (S$1.38 billion) a year in Southeast Asia.
Singapore-based Grab, which has been posting heavy losses from its ride-sharing and food delivery services, hopes to sell this intellectual property to companies such as telecommunication firms, logistic firms and government agencies.
In doing so, Grab will be competing against the map services of United States technology giant Google, for example.
In a press release on Wednesday (June 8), Grab said that it had launched GrabMaps to spearhead the push to sell these services, adding that it already uses Grab data in seven of the eight countries where it operates.