Peter Oey, Chief Financial Officer of Grab, commented, “We achieved a record quarter in terms of Gross Merchandise Value and Adjusted Net Sales, and continue to experience strong traction in our newer services like GrabMart and PayLater. At the same time, we’re creating more opportunities for merchants - our GrabFood merchant base has more than doubled, while merchants using GrabPay nearly tripled.” As the platform becomes more relevant to everyday life in Southeast Asia, we’ve seen user spend grow by 27% year over year. “Our growth is testament to the resilience of our superapp business model and the significant market opportunity in the region. This was in spite of a worsening COVID-19 environment, which saw many Southeast Asian countries tightening movement restrictions as cases surged,” said Anthony Tan, Group CEO and Co-founder of Grab. “We had a strong quarter with double, and in some cases, triple-digit growth year-over-year across all of our core verticals. (Nasdaq: AGC), a special purpose acquisition company, continues to progress and is expected to close in the fourth quarter. Grab’s planned business combination with Altimeter Growth Corp. Adjusted EBITDA for Q2 2021 was $(214) million and Net Loss was $(815) million. Total revenue was $180 million, up 132% year-over-year (“YoY”). The company posted record Gross Merchandise Value and Adjusted Net Sales of $3.9 billion and $550 million respectively. SINGAPORE & MENLO PARK, Calif.-( BUSINESS WIRE)-Grab Holdings Inc., Southeast Asia’s leading superapp, today announced financial results for the quarter ended June 30, 2021.
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