Grab’s SPAC merger values the company at a whopping $40B

Singaporean tech giant Grab has agreed to go public through a SPAC (Special Purpose Acquisition Company) merger. It’ll merge with US-based Altimeter Growth Corp, backed by Altimeter Capital. According to a report from Reuters, through this deal, the firm would be valued at nearly $40 billion. Because of its varied offerings such as ride-hailing, digital payments, and food delivery, the company’s valuation has doubled in the last 18 months. The deal also brings a $4 billion-plus investment for Grab under PIPE (private investment in public equity). Altimeter Capital is leading that front with a $750 million contribution; other investors include BlackRock, Fidelity International, Janus Henderson…

This story continues at The Next Web

from The Next Web https://ift.tt/3scw7O3