As Grab grabs more market share locally and in markets it serves, it is also dishing out investments in companies it thinks is going somewhere (no pun intended). The latest company to receive funding from Grab is oBike. Yes, the same one who got fined by MBPJ.
Grab’s investment in oBike was not initially named during the US$45 million (about RM 190 million) Series B round announced in August, . The bicycle ride-sharing service is expanding fast in Klang Valley, as they plan to add more availability locations (even with the local authorities breathing down their neck).
The investment might be for expansion in other regions as oBike spreads its wings to offer last-mile ride-sharing services to the masses in new markets. Right now, oBike is available in thirteen different countries in Asia and Europe, including Singapore, Malaysia, Switzerland, Austria and Australia.
It beckons the question on why is Grab investing now. Some are speculating that we may just see oBike integration with the Grab app. Perhaps in the near future we will see a seamless app experience for public transportation in Malaysia?
As it is right now, we have too many apps to juggle; we may just see apps and service consolidation in the near future.
(Source: TechCrunch )
