Seize is shrugging off the menace that Singapore would possibly undo its acquisition of Uber’s Southeast Asia enterprise after the ride-hailing agency introduced a brand new technique to turn out to be Southeast Asia’s one-stop “super app.”
The Competitors and Client Fee Singapore (CCCS) final week stated it might levy a high quality or unwind the Uber-Seize deal however right now Singapore-based Seize introduced a push to past merely providing rides in Southeast Asia, a area of greater than 600 million shoppers.
Seize will now permit third events to turn out to be part of its service, which claims over 100 million downloads so far. ‘Grab Platform’ — because the initiative known as — permits associate corporations to faucet Seize’s scale to achieve new clients and make the most of different companies. The primary to enroll is grocery supply firm HappyFresh, which has developed a model of its service that’s built-in into the Seize app. HappyFresh, which has struggled to construct a enterprise in Southeast Asia, will get pleasure from Seize’s distribution and the chance to faucet into Seize’s fleet and its GrabPay cost service. Seize declined to supply monetary particulars of the partnership.
Seize co-founder Hooi Ling Tan stated that Seize has plans to introduce APIs and, in time, make associate sign-up “significantly more self-serving so that even SMEs can leverage so the same assets that some of our larger partners have.”
Except for associated associate companies, Seize can also be bringing information, video games and different content material to its app, which is getting a design facelift to replicate the change. Up to now, Seize’s app had opened to a ride-booking display screen, however now it would load a listing of companies and content material to replicate a extra various set of choices.
There’s truly nothing new there. That strategy could be very a lot much like Go-Jek, Seize’s rival which dominates Indonesia and is increasing throughout Southeast Asia and first pioneered the idea of on-demand companies in Southeast Asia. The Seize refresh additionally takes cues from China’s Meituan, a brilliant app firm that invested in Go-Jek and goes public in Hong Kong, and blockbuster Chinese language apps WeChat from Tencent and Alipay.
“All of this is aimed to help our consumer experience become Southeast Asia’s everyday super app,” Tan stated at a press occasion at the Rise convention in Hong Kong.
Seize just lately raised $1 billion from Toyota — a deal that represents the most important ride-sharing funding from an automaker — and Tan hinted that the corporate may very well be worthwhile.
“We are already profitable in some of our markets and especially the more mature ones [and] we are in a position to continue investing into growth,” Tan defined. There’s a “strong path to profitability but we’ve made an active decision to continue growing because we know that there’s so much potential there.”
Seize stated final month that it’s heading in the right direction to achieve $1 billion in income for 2018, and Tan added that GMV has jumped by nine-fold over the previous 12 months. Whereas Tan declined to debate revenue or loss figures, she did say that Seize has now crossed two billion rides having clocked its first billion again in November 2017.