Grab's Q4 net loss surpasses $1b as costs rise in "quarter of reinvestments"

Grab's Q4 net loss surpasses $1b as costs rise in "quarter of reinvestments"

Photo: Grab

Southeast Asian superapp Grab saw its net losses widen in the fourth quarter of 2021 as it spent more to attract drivers and consumers onto its platform. The Nasdaq-listed firm said it expects incentive costs to further rise as it hopes to draw drivers back to its ride-hailing business and maintain its market share.