SINGAPORE (Dec. 3): Singaporean ride-hailer Grab’s CEO told his employees in an internal note on Thursday that the company is ready to make acquisitions, following a report that it is close to merging with regional rival Gojek.
The two companies have made significant strides in talks to merge Southeast Asia’s two most valuable startups, Bloomberg reported Wednesday.
Sources familiar with the case have previously told Reuters that in recent years, major investors of the two companies have backed a merger of the two loss-making companies.
“There is another speculation of a deal with Gojek,” Anthony Tan told employees in a note posted on the company’s internal communications platform seen by Reuters.
“Our business momentum is good, and as with all market consolidation rumors, we are the ones to acquire.”
Tan did not provide details of a possible deal with Gojek. Grab declined comment on Tan’s post and the media report. Gojek declined to comment.
Grab, Southeast Asia’s largest start-up, is now estimated to be worth more than $ 15 billion, Reuters reported in October, according to a source familiar with the case. Gojek’s worth is estimated at $ 10 billion.