No. 10: Rethinking ride sharing
Anthony Tan Cofounder and CEO, Grab
Anthony Tan has morphed Uber competitor Grab into a multipurpose sharing platform.
In the past year, Southeast Asian ride-hailing company Grab hit 90 million downloads, reached 196 cities, took in more than $2 billion in investments, and even acquired Uber’s Southeast Asia business. CEO Anthony Tan has fueled this growth by transforming Grab from a mere app into a platform for everything from bike sharing to food delivery to, most recently, mobile payments. Tan initially launched the Grabpay mobile wallet in 2016 to enable transactions between riders and drivers who don’t have traditional bank accounts. Last November, he began integrating other merchants, allowing Grabpay’s 5 million users to shop at participating stores and food stalls. Next up: a partnership with Japan’s Credit Saison to offer microloans and other services to Grab’s growing network of drivers, riders, and small businesses. For Tan, it all starts with asking the question, “How can we make sure [users] are so engaged they don’t even want to leave Grab?”