Southeast Asia’s super-app Grab could face class action suits in US following recent share price dive

Nasdaq-listed super-app Grab could face class action lawsuits, with several United States law firms calling for shareholders to contact them to investigate claims on their behalf. The mounting of such investigations, which is fairly commonplace for listed firms in the US, comes after Grab’s shares crashed last week, falling about 37 per cent on March 3 after it announced a fourth-quarter net loss of US$1.1 billion. Its results came amid a worse-than-expected drop in revenue, due to higher incentives being paid out to attract drivers and consumers.

More News

Next Article

AppLovin Buys Wurl, and Other CTV Tidbits

March 10, 2022

How about a trio of Connected TV stories? App marketing platform AppLovin is spending $430 million to buy streaming TV distribution vendor Wurl, which will expand AppLovin’s footprint beyond apps. The Atedra media buying platform has integrated its inventory with Datonics’ audience data, which includes search, intent, life-stage, behavioral, and other information. And, advertising analytics vendor Kantar has partnered with live TV streaming platform fuboTV to measure the impact of fuboTV campaigns on brand metrics.

CDPI Newsletter
Previous Article

Singapore’s Insider unlocks unicorn status and announces $121M Series D with a $1.22B valuation

March 10, 2022

Insider, a Singapore-based marketing tech firm, announced Monday a $121 million Series D round led by Qatar Investment Authority (QIA), at a $1.22 billion valuation. Insider said in a statement that the additional capital will be used to fuel rapid global expansion, enhance the company’s core technology and scale global sales and marketing investments.

CDPI Emerging Markets