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According to a recent report, Grab had held talks with Singapore-based payments startup 2C2P Pte, but failed to seal a deal as the latter turned down preliminary offers of up to about $200 million, and instead decided to raise additional capital to keep expanding as an independent company.
Last year, Grab acquired Uber's Southeast Asia operations in a deal that involved the US firm picking up a 27.5 per cent stake in SEA's most valuable internet company. Uber's recent IPO filing showed that it got "Grab's Series G Preferred Stock representing a 30% equity ownership interest...", which had been diluted down to about 23.2 per cent as of December-end.
The other major regional deal involved Alibaba picking up a controlling stake for $1 billion in 2016 in Lazada, which then promptly bought online grocer RedMart in 2016. That exit, however, reportedly came at a loss for Lazada investors. Alibaba has pumped in an additional $3 billion into Lazada since then.
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