News: A report showed that Grab s app surpassed Uber s in first-quarter downloads.
Compared to Uber, the startup has presence in more cities in the region, The Wall Street Journal reported, citing a study by mobile-app analytics firm App Annie.
The ride-hailing market in Southeast Asia is expected to grow over five times to $13.1bn by 2025 from $2.5bn last year, accroding to a recent report on Southeast Asia's internet economy conducted by Alphabet's Google and Singapore state-investment firm Temasek Holdings.
Launched in 2012, Singapore-based GrabTaxi Holdings provides services such as motorcycle taxis, package deliveries and cash payment, which are tailored to fit the local needs in the region.
Grab's valuation reached $1.6bn in its last round of funding in 2015 and it currently operates in 30 cities in Southeast Asia, employing 1,600 peoples.
However, competing with Uber is a not an easy task for Grab, as the former has massive resources to expand globally.