Altimeter Growth Corp (AGCUU)

Etorro trading 970x250

About Altimeter Growth Corp

Altimeter Growth Corp. is a blank check company. The company was founded in in 2020 and is based in Menlo Park, California. Address: 2550 Sand Hill Road, Menlo Park, CA, United States, 94025

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Latest news about Altimeter Growth Corp (AGCUU) common stock and company :

Grab Raises Stake in E-Wallet Ovo to 90%, Buys Out Tokopedia
04 Oct, 2021 Yahoo! Finance

(Bloomberg) -- Grab Holdings Inc. is boosting its ownership of the Indonesian mobile wallet provider Ovo to about 90% by acquiring stakes from PT Tokopedia and Lippo Group. Most Read from BloombergLeft-Wing Rage Threatens a Wall Street Haven in Latin AmericaBefore Interstates, America Got Around on InterurbansChristmas at Risk as Supply Chain ‘Disaster’ Only Gets WorseHow Singapore's $50 Billion Financial District Will Change After Covid-19Reshaped by Crisis, an ‘Anti-Biennial’ Reimagines Chicag

Grab Hires CEO of SATS Alex Hungate as Chief Operating Officer
04 Oct, 2021 Yahoo! Finance

(Bloomberg) -- Grab Holdings Inc., which plans to go public via a merger with Altimeter Growth Corp. by the end of this year, has appointed Alex Hungate, chief executive officer of SATS Ltd., as its chief operating officer. Most Read from BloombergLeft-Wing Rage Threatens a Wall Street Haven in Latin AmericaBefore Interstates, America Got Around on InterurbansChristmas at Risk as Supply Chain ‘Disaster’ Only Gets WorseHow Singapore's $50 Billion Financial District Will Change After Covid-19Resha

Grab Cuts Full-Year Outlook on Worsening Virus Outbreak
14 Sep, 2021 Yahoo! Finance

(Bloomberg) -- Grab Holdings Inc., Southeast Asia’s ride-hailing and delivery giant, cut projections for 2021 as the region is battling one of the world’s worst Covid-19 outbreaks due to the fast-spreading delta variant.The Singapore-based company, which is set to go public in the U.S. through a deal with a blank-check company, expects full-year adjusted net sales of $2.1 billion to $2.2 billion, according to a statement Tuesday. That compares with $2.3 billion it forecast in an investor present

Grab Reports Second Quarter 2021 Results
13 Sep, 2021 Yahoo! Finance

SINGAPORE & MENLO PARK, Calif., September 13, 2021--Grab Holdings Inc., Southeast Asia’s leading superapp, today announced financial results for the quarter ended June 30, 2021. The company posted record Gross Merchandise Value and Adjusted Net Sales of $3.9 billion and $550 million respectively. Total revenue was $180 million, up 132% year-over-year ("YoY"). Adjusted EBITDA for Q2 2021 was $(214) million and Net Loss was $(815) million. Grab’s planned business combination with Altimeter Growth

Grab to Participate at Upcoming Investor Conferences
06 Aug, 2021 Yahoo! Finance

SINGAPORE, August 06, 2021--Grab Holdings Inc. ("Grab"), Southeast Asia’s leading superapp, announced that its management team is scheduled to present at the following virtual investor conferences. Attendance is by invitation only for clients of each respective firm. Interested investors should contact their respective sales representative to register and schedule one-on-one meetings.

Grab Announces Strong First Quarter 2021 Results as Company Progresses Towards U.S. Public Listing in Partnership with Altimeter Growth Corp.
02 Aug, 2021 Yahoo! Finance

SINGAPORE & MENLO PARK, Calif., August 02, 2021--Grab Announces Strong First Quarter 2021 Results as Company Progresses Towards U.S. Public Listing in Partnership with Altimeter Growth Corp.

Dragoneer, Altimeter Look to New Funds as Unicorns Burgeon
06 Jul, 2021 Yahoo! Finance

(Bloomberg) -- Marc Stad’s Dragoneer Investment Group and Brad Gerstner’s Altimeter Capital Management are each seeking to raise new vehicles dedicated to backing fast-growing technology companies, according to a person with knowledge of the matter.Dragoneer is in talks to raise $2.5 billion and Altimeter has targeted $1 billion for bets on startups, the person said. The firms are courting so-called limited partners such as pension funds, sovereign wealth funds and family offices, the person sai

Didi Duo Set for Billion Dollar Fortunes on Ride-Hailing IPO
14 Jun, 2021 Yahoo! Finance

(Bloomberg) -- Cheng Wei, the co-founder of Chinese ride-hailing giant Didi, is poised to shoot up the ranks of the super-wealthy when his firm lists shares in the U.S.The company filed last week for an initial public offering under the business name Xiaoju Kuaizhi Inc., revealing that the Chinese entrepreneur has a 7% stake. With Didi reportedly trading at a valuation of about $95 billion in the secondary market in recent months, that shareholding could be worth as much as $6.7 billion, accordi

Grab CEO Confident SPAC Deal to Close by Year-End After Delay
13 Jun, 2021 Yahoo! Finance

(Bloomberg) -- Grab Holdings Inc. Chief Executive Officer Anthony Tan said he’s confident the merger of the ride-hailing and food-delivery giant and a U.S. blank-check company will be completed by year-end, following a delay caused by a review of its financials.The Singapore-based startup last week postponed the expected completion of the deal with Altimeter Growth Corp. -- set to be one of the largest-ever mergers with a special purpose acquisition company -- to the fourth quarter as it works o

Singapore’s Grab Delays Merger Completion to Fourth Quarter
10 Jun, 2021 Yahoo! Finance

(Bloomberg) -- Singapore’s Grab Holdings Inc. postponed the expected completion of its merger with a U.S. blank-check company as the ride-hailing and food-delivery giant works on a financial audit of the past three years.The deal, set to be one of the largest-ever mergers with a blank-check company, is now expected to be completed in the fourth quarter of this year, the company said in a statement on Wednesday. When announcing the merger in April, Grab expected completion in the third quarter.Gr

PropertyGuru to Acquire REA Group’s Malaysia, Thailand Units
31 May, 2021 Yahoo! Finance

(Bloomberg) -- Singapore real estate startup PropertyGuru Pte has agreed to acquire all of the shares in REA Group Ltd.’s operating entities in Malaysia and Thailand, marking the biggest acquisition in its 14-year history.PropertyGuru will take over iProperty.com.my and Brickz.my in Malaysia and thinkofliving.com and Prakard.com in Thailand from Australia’s REA Group, the Southeast Asian company said in a statement on Monday. As part of the deal, REA, which is majority-owned by Rupert Murdoch’s News Corp. empire, will get an 18% equity interest in PropertyGuru and appoint a director to its board. No price has been disclosed for the deal.“We are investing in these markets as they emerge out of Covid in the coming years,” Chief Executive Officer Hari V. Krishnan said in an interview with Bloomberg TV’s Haslinda Amin and Rishaad Salamat. “Some of the macro mega trends like urbanization, digitization, the emergence of the middle class, remain in place.”The announcement comes after a flurry of deal-making by the most valuable startups in the region. Ride-hailing and payments giant Gojek and e-commerce leader Tokopedia announced earlier this month they will combine their businesses to create the largest internet company in Indonesia. Close Gojek rival Grab Holdings Inc. last month agreed to go public in the U.S. through a combination with Altimeter Growth Corp. in the largest-ever merger with a blank-check company.​For PropertyGuru, the deal will likely reduce competition in Malaysia and Thailand where the company has been competing against REA’s affiliates. Krishnan said the firm will keep the existing brands and invest in their development for the foreseeable future.The CEO declined to provide a specific timeframe for going public. The company regularly reviews the potential for an initial public offering after scrapping plans to list on the Australian stock exchange in October 2019 on concerns over its targeted valuation of A$1.36 billion ($1 billion). In September, it announced S$300 million ($220 million) in new funding from existing backers TPG Capital LP and KKR & Co Inc.“If the opportunity is right and if we feel our assets would be valued by public market investors, we will take it public,” he said. “But today’s announcement is more about building the core capability set for business and investing heavily into Malaysia and Thailand.”Malaysia Announces 2-Week National Lockdown Amid Virus FightThe transaction, which is expected to close in July, is conditional on REA’s divestment of its 27% stake in PropertyGuru’s rival 99 Group, which it has a joint venture with in Singapore and Indonesia. “Discussions are well progressed in relation to the divestment,” according to REA’s stock exchange filing on Monday.99 Group CEO Darius Cheung told Bloomberg News that his company is currently in discussions with investors to raise funds, some of which will be used to acquire REA’s 27% stake in 99.“This move allows us to free from the shackles of having our most significant shareholder being a public company,” Cheung said, adding that he plans to enter Malaysia to compete against PropertyGuru.The Malaysian and Thailand businesses are expected to contribute A$15 million to REA’s revenue in the fiscal years of 2021, though they will probably reduce its earnings before interest, taxes, depreciation and amortization by about A$11 million, according to the REA filing.REA shares fell as much as 0.7% in Australia on Monday.Launched in 2007 to help Singapore residents search for real estate online, PropertyGuru has become a household name in the property-crazed city-state. Today, it’s the largest real estate marketplace in Southeast Asia with operations spanning countries including Vietnam, Indonesia, Malaysia and Thailand.(Updates with CEO’s comments and 99 Group comments from third paragraph)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

Gojek to Merge With Tokopedia to Create Indonesia Tech Giant
17 May, 2021 Yahoo! Finance

(Bloomberg) -- Ride-hailing and payments giant Gojek agreed to combine with e-commerce pioneer PT Tokopedia to create the largest internet company in Indonesia, before seeking a stock-market debut at home and in the U.S.The combined entity is set to form a powerhouse in the world’s fourth most-populous nation, encompassing businesses from car-sharing and fintech to online shopping and delivery. The startups said Monday they will form a holding company called GoTo through a deal backed by shareholders including Google and Alibaba Group Holding Ltd., without providing a valuation.Gojek and Tokopedia are betting a larger size will help them better compete against rivals such as Sea Ltd. and Grab Holdings Inc. as so-called super apps gain popularity in Southeast Asia, a region of more than 650 million people. The two companies together were valued at about $18 billion during their merger talks, with Gojek shareholders set to receive 58% of the new entity’s ownership and Tokopedia holders the rest, people familiar with the matter have said.“It’s a union of equals,” Gojek co-Chief Executive Officer Andre Soelistyo, who will head the combined app giant, said during a media conference via Zoom. “We are creating probably the first platform in the world that combines very distinctive platforms -- e-commerce, on-demand and financial services -- into one larger ecosystem.”GoTo will pursue a listing by the end of 2021, with a goal of having its shares traded in both Jakarta and the U.S., Tokopedia President Patrick Cao told reporters. The company is considering all options, including an initial public offering and a deal with a special purpose acquisition company, he said. The target valuation in the public markets is between $35 billion and $40 billion, Bloomberg News has reported.A listing would give global investors another opportunity to bet on one of the world’s fastest-growing internet economies. Shares of Sea, the only major Southeast Asian internet company traded in the U.S., have more than tripled over the past year, boosted by the growing popularity of its online shopping platform Shopee and mobile gaming service.Gojek and Tokopedia have been in discussions for a possible merger since late December after Gojek’s negotiations with rival Grab collapsed. Grab last month agreed to go public in the U.S. through a combination with Altimeter Growth Corp., the largest-ever merger with a blank-check company.“This will strike a blow at Grab’s lofty aspirations, given GoTo suddenly becomes a larger, more diverse entity,” said Angus Mackintosh, founder of CrossASEAN Research. “Shopee remains a significant competitor in Indonesia in an increasing number of areas, but it now has a bigger competitor in this combined entity.”Tokopedia and Gojek estimate the combined market for on-demand transport and delivery services, e-commerce and fintech in Southeast Asia at $134 billion in 2020.Tokopedia’s Cao will retain the president’s title at the new entity, working side by side with group CEO Soelistyo, 37. William Tanuwijaya, CEO of Tokopedia, will continue to lead the online shopping pioneer he founded in 2009, while Gojek co-CEO Kevin Aluwi will continue to helm ride-hailing and delivery giant Gojek. Soelistyo will also head the payments and financial services unit GoTo Financial.Gojek was started as a call center in 2010 by Nadiem Makarim to arrange courier deliveries in Jakarta. Everything was manual: employees called motorbike drivers one by one until someone accepted an order. Makarim worked at other startups so he could keep the fledgling operation alive.Soelistyo was working at private-equity firm Northstar Group, which became the first institutional investor in the upstart in its early days.With backing from Northstar, Makarim decided in 2014 to develop a mobile app. When that debuted in early 2015, the service was so popular Gojek couldn’t cope with demand. Soelistyo joined Gojek as president that year and has helped to expand it to about 20 consumer services.He was named co-CEO together with Aluwi in October 2019 when Makarim accepted a minister’s post in Indonesia’s government and resigned from Gojek.“We were small local companies that were going up against global giants,” Aluwi said. “We are no longer underdogs. We have an opportunity to become a global, enduring, iconic company, born in Indonesia.”Goldman Sachs Group Inc. is advising Gojek, while Citigroup Inc. is assisting Tokopedia.(Updates with listing plans starting in first paragraph)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

Grab’s SPAC Vehicle Altimeter Near Record Low After 28% Dive
14 May, 2021 Yahoo! Finance

(Bloomberg) -- Altimeter Growth Corp., the blank-check company merging with internet giant Grab Holdings Inc., is hovering just a few cents above its record low after cratering 28% since the deal was unveiled in April.Altimeter closed Thursday at $11.06, just shy of its $10.98 historical trough. That selloff came after Southeast Asia’s most valuable startup announced a deal on April 14 with the special purpose acquisition company of Brad Gerstner’s Altimeter Capital Management to go public in the U.S. by July, in the largest-ever merger with a blank-check company.The Singapore-based ride-hailing and delivery startup is set to have a market value of about $39.6 billion through the combination with Altimeter, the companies said at the time of the announcement. It’s raising more than $4 billion from investors including BlackRock Inc., Fidelity International and T. Rowe Price Group Inc. as part of the biggest U.S. equity offering by a Southeast Asian company. Grab declined to comment on Friday.“SPACs have seen a bit of selloff so it reflects the general sentiment,” said Angus Mackintosh, founder of CrossASEAN Research. The share price at current levels won’t make a big difference from Grab’s listing perspective, he added. “It just means profits your SPAC owners would realize are diluted to some extent. They have effectively locked in cornerstone investors at a $40 billion valuation. Whether Grab can sustain that lofty valuation after listing, given the competitive landscape, is a bigger question.”Nirgunan Tiruchelvam, head of consumer sector equity research at Tellimer in Singapore, said Altimeter’s share price drop suggested the market is uncomfortable with the valuation pledged for Grab, as well as indicative of weakness in the broader SPAC market.Blank-check companies completed $181 billion of U.S. listings over the last five quarters, accounting for 55% of all IPO fundraising in New York, according to data compiled by Bloomberg. At the peak of the frenzy, more than 50 SPACs unveiled plans to raise a combined $17 billion during a single week in February.But the pace of new deals has now slowed to a trickle, with only five blank-check companies submitting registration documents in the last week of April. U.S. regulators have been warning investors for months about the potential risks around SPACs. Last month, they spooked dealmakers by floating the potential of different accounting treatment for one aspect of SPAC deals, a move that has forced many companies to review their results.Read more: Singapore’s Grab to List in U.S. in $40 Billion SPAC DealSPACs are investment vehicles that go public despite having no real business. The plan is to raise money from investors and use it to buy into another company, typically a private one that’s yet to be chosen.The investors who buy into and fund SPACs when they first go public are typically institutions such as hedge funds, and the companies offer them the combination of a relatively small downside with a chance to make a tidy profit down the road. Blank checks typically go public at $10 a share and have 24 months to find a target. If the company fails to identify one, it liquidates, and investors get their money back. Investors also get to vote on a deal and have a chance to redeem their shares whatever the result.(Updates with analyst’s comment in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

INVESTIGATION ALERT: Halper Sadeh LLP Investigates CHFW, ROCC, AGC, TWCT, GLEO; Shareholders are Encouraged to Contact the Firm
29 Apr, 2021 Yahoo! Finance

Halper Sadeh LLP, a global investor rights law firm, announces it is investigating the following companies:

Moore Kuehn Encourages TWCT, AGC, ROCC, and CHFW Investors to Contact Law Firm
21 Apr, 2021 Yahoo! Finance

NEW YORK, April 21, 2021 (GLOBE NEWSWIRE) -- Moore Kuehn, PLLC, a law firm focusing in securities litigation located on Wall Street in downtown New York City, is investigating potential claims concerning whether the following proposed mergers are fair to shareholders. Moore Kuehn may seek increased consideration, additional disclosures, or other relief on behalf of the shareholders of these companies: TWC Tech Holdings II Corp. (NASDAQ: TWCT) TWC Tech Holdings II Corp. has agreed to merge with Cellebrite DI Ltd. Under the proposed transaction, TWC Tech shareholders will own only 20% of the combined company. Altimeter Growth Corp. (NASDAQ: AGC) Altimeter Growth Corp. has agreed to merge with Grab Holdings. Under the proposed transaction, Altimeter Growth shareholders will own just 1.3% of the combined company. Roth CH Acquisition II Co. (NASDAQ: ROCC) Roth CH Acquisition II Co. has agreed to merge with Reservoir Holdings. Under the proposed transaction, Roth CH shareholders will own only 15.5% of the combined company. Consonance-HFW Acquisition Corp. (NYSE: CHFW) Consonance-HFW Acquisition Corp. has agreed to merge with Surrozen. Under the proposed transaction, Consonance-HFW shareholders will retain only 21% of the combined company. Moore Kuehn is investigating whether the Boards of the above companies 1) acted to maximize shareholder value, 2) failed to disclose material information, and 3) conducted a fair process. Moore Kuehn encourages shareholders who would like to discuss their rights to contact Justin Kuehn, Esq. by email at jkuehn@moorekuehn.com or telephone at (212) 709-8245. The consultation and case are free with no obligation to you. Moore Kuehn pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights. Moore Kuehn is a 5-star Google rated New York City law firm with attorneys representing investors and consumers in litigation involving securities laws, fraud, breaches of fiduciary duties, and other claims. For additional information about Moore Kuehn, please visit http://www.moorekuehn.com/practice/new-york-securities-litigation/. Attorney advertising. Prior results do not guarantee similar outcomes. Contacts:Moore Kuehn, PLLCJustin Kuehn, Esq.30 Wall Street, 8th FloorNew York, New York 10005jkuehn@moorekuehn.com(212) 709-8245

Grab Holdings Inc -- Moody's reviews Grab's B3 ratings for upgrade following proposed merger with Altimeter SPAC
15 Apr, 2021 Yahoo! Finance

Rating Action: Moody's reviews Grab's B3 ratings for upgrade following proposed merger with Altimeter SPACGlobal Credit Research - 15 Apr 2021Singapore, April 15, 2021 -- Moody's Investors Service has placed Grab Holdings Inc's (Grab) ratings under review for upgrade. Grab and its wholly-owned subsidiary, Grab Technology LLC, are the borrowers. The loan is guaranteed by subsidiaries engaged in transport, food and delivery services.The outlook has been changed to ratings under review from stable.Today's rating action follows Grab's announcement [1] on 13 April 2021 that it has entered into a definitive agreement to merge with Altimeter Growth Corp., a special purpose acquisition company (SPAC), that will result in Grab's public listing on the NASDAQ."Grab's public listing will add $4.0-$4.5 billion of liquidity buffer upon successful completion, which will support the company's growth plans," says Stephanie Cheong, a Moody's Analyst.

Grab CEO Tan to Get Majority Voting Control in Record SPAC Deal
15 Apr, 2021 Yahoo! Finance

(Bloomberg) -- Chief Executive Officer Anthony Tan will receive majority voting control at Grab Holdings Inc. as it merges with Altimeter Growth Corp., a corporate governance decision that will tighten his grip over the startup he co-founded less than a decade ago.Tan, 39, will end up with 60.4% of the voting power while owning a stake of 2.2%, enabled by different share classes, according to a regulatory filing. He holds 2.6% of the current voting power in Grab, matching his ownership of common shares.Conversely, Grab’s other shareholders will see their voting control diluted. SoftBank Vision Fund, Grab’s biggest shareholder with an 18.6% stake after the merger, will have voting power of just 7.6%. Other major owners include Uber Technologies Inc., Didi Chuxing and Toyota Motor Corp.The voting arrangement resembles that of Silicon Valley technology giants such as Facebook Inc., where a dual-class share structure gives Mark Zuckerberg super-sized power over the business. While the formula is popular -- especially among technology firms -- it has invited criticism from investors because of its undemocratic nature.Grab, Southeast Asia’s most valuable startup, agreed to go public in the U.S. through the largest-ever merger with a blank-check company. The Singapore-based startup is set to have a market value of about $39.6 billion after the combination with Altimeter Growth, the special purpose acquisition company of Brad Gerstner’s Altimeter Capital Management, the firms said this week.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

Singapore’s Grab to List in U.S. in $40 Billion SPAC Deal
14 Apr, 2021 Yahoo! Finance

(Bloomberg) -- Grab Holdings Inc., Southeast Asia’s most valuable startup, is going public in the U.S. through the largest-ever merger with a blank-check company.The Singapore-based startup is set to have a market value of about $39.6 billion after the combination with Altimeter Growth Corp., the special purpose acquisition company of Brad Gerstner’s Altimeter Capital Management, the firms said in a statement Tuesday. Grab is raising more than $4 billion from investors including BlackRock Inc., Fidelity International and T. Rowe Price Group Inc. as part of the biggest U.S. equity offering by a Southeast Asian company.The deal would make the ride-hailing and food-delivery giant the first Southeast Asian tech unicorn to go public through a SPAC and give it funds to expand. Grab is trying to take advantage of a U.S.-led SPAC listing boom even though it’s showing signs of slowing amid increased scrutiny by regulators.“This is definitely one of the best internet companies,” Gerstner said in an interview. “The runway ahead is very long and very wide for Grab if they continue to execute.”The combined entity’s stock will trade on the Nasdaq in the coming months under the ticker GRAB. Altimeter Capital, which orchestrated the initial public offering of Altimeter Growth in September, is putting $750 million into the company, about a fifth of the fresh funds raised.That, together with a three-year lockup period for its sponsor shares, indicates Altimeter’s long-term commitment to the company, Grab Chief Executive Officer Anthony Tan said. Altimeter, which manages $15 billion of assets, has also committed as much as $500 million to a contingent investment to be equal to the total amount of redemptions by Altimeter Growth’s shareholders.“From sovereign wealth funds to mutual funds, it is world-class investors who are investing in us,” Tan said in an interview. “The world is seeing the potential of Southeast Asia and how exciting this region is.”Shares in Altimeter Growth surged about 10% Tuesday in New York.Grab, the market leader in Southeast Asia for so-called super apps for consumer services, expects its addressable market to expand to more than $180 billion by 2025 from $52 billion in 2020. Its total gross merchandise volume last year was $12.5 billion, more than doubling from 2018 even as competition from arch rival Gojek intensified and the coronavirus pandemic restricted people’s movements.The deal marks a remarkable turn for Grab. Under pressure from SoftBank Group Corp. and other investors, the company had been negotiating a possible merger with Indonesia’s Gojek for most of 2020. But the talks ultimately collapsed around December and Gojek began talks with Tokopedia, another local internet giant.Tan and Gerstner, both Harvard Business School graduates, began talking about a deal early this year after being introduced by common friends. Only about three months later, they reached an agreement for the record transaction.Gerstner is no stranger to Southeast Asia, having invested in Singapore-based gaming and e-commerce leader Sea Ltd. The Tencent Holdings Ltd.-backed company has emerged as a stock-market sensation since going public in New York in 2017. Among companies valued at $100 billion or more, the stock is the No. 1 Asian performer since the start of last year and trails only Tesla Inc. globally.“The U.S. and China have been big investment markets for 20 years and before Sea, Southeast Asia wasn’t really on many investors’ radar screens,” said Gerstner, who has been following Grab since its 2018 acquisition of the regional business of Uber Technologies Inc., another company he’s backed. “Now you have a second business with a $40 billion market cap which is going to be listed on the Nasdaq. This is a huge moment for global investors realizing the renaissance that’s occurring in Southeast Asia technology market.”Tan founded Grab in his native Malaysia as a taxi-hailing app in 2012 with Hooi Ling Tan, a Harvard classmate. They kicked off operations in Kuala Lumpur as what was then known as MyTeksi, allowing users to book cabs.Grab later relocated to Singapore before expanding as a ride-hailing app from Indonesia to Vietnam, the Philippines, Cambodia and Myanmar. With more than $10 billion raised from investors led by SoftBank over eight funding rounds, Grab became Southeast Asia’s largest ride-hailing provider before expanding into food delivery, digital payments and financial services across eight countries in the region.Working toward profitability, Grab lost about $800 million last year, on an Ebitda basis, on adjusted sales of $1.6 billion. It’s predicting earnings before interest, taxes, depreciation and amortization to become positive in 2023, reaching $500 million that year. The company is forecasting average annual sales growth of 42% for the next three years, with adjusted revenue hitting $4.5 billion in 2023.Grab said its mobility-services business is already making money in all its markets, while food delivery is in the black in five of six markets. The company said it had about 72% of Southeast Asia’s ride-hailing market, 50% of online food delivery and 23% of digital wallet payments last year. Grab was previously valued at about $16 billion, a person with knowledge of the matter said.Among companies participating in the cash injection, a so-called private investment in public equity, or PIPE, are Singapore’s state-owned investor Temasek Holdings Pte, Janus Henderson Group Plc and Nuveen LLC. The expected market value also reflects the PIPE and SPAC proceeds of $4.5 billion as well as a $2 billion term loan, according to Grab.Evercore Inc., JPMorgan Chase & Co. and Morgan Stanley advised Grab in the deal.(Updates with sales, earnings forecasts in 16th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of Altimeter Growth Corp. (NASDAQ - AGC)
13 Apr, 2021 Yahoo! Finance

BALA CYNWYD, PA / ACCESSWIRE / April 13, 2021 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Altimeter Growth Corp. ("AGC" or the "Company") (NASDAQ:AGC) for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement pursuant to which AGC, a special purpose acquisition company, will combine with Grab Holdings Inc.

Grab, the Leading Superapp for Deliveries, Mobility and Financial Services in Southeast Asia1, Plans to Go Public in Partnership with Altimeter
13 Apr, 2021 Yahoo! Finance

Grab Holdings Inc. ("Grab"), Southeast Asia’s leading superapp1, today announced it intends to go public in the U.S. in partnership with Altimeter Growth Corp. (Nasdaq: "AGC") in what is expected to be the largest-ever U.S. equity offering by a Southeast Asian company. The combined company expects its securities will be traded on NASDAQ under the symbol "GRAB" in the coming months.

Today’s Biggest Pre-Market Movers: 10 Top Gainers and Losers on Wednesday Morning
07 Apr, 2021 FinancialContent

InvestorPlace - Stock Market News, Stock Advice & Trading Tips We're only halfway through the week but there's plenty of pre-market movers that investors will want to keep an eye on today. The post Today’s Biggest Pre-Market Movers: 10 Top Gainers and Losers on Wednesday Morning appeared first on InvestorPlace. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG It doesn’t matter if you have $500 in savings or $5 million. Do this now. Top Stock Picker Reveals His Next Potential 500% Winner Stock Prodigy Who Found NIO at $2… Says Buy THIS Now

'SPACs Attack' Weekly Recap: Looking Back On 5 Deals, Rumors, And Headline News
14 Mar, 2021 FinancialContent

It was another busy week for the SPAC market with numerous deal announcements and rumored deals. Here is a look back at the announced deals, rumors, and some top headlines.

Altimeter Growth Corp (AGCUU) is a NASDAQ Common Stock listed in

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