SINGAPORE — Technology firm Grab Holdings is looking to sell the location-based services and mapping data it has amassed from consumers in a bid to tap into a market it estimates is worth US$1 billion a year in Southeast Asia.
The firm said it expects to be fully self-sufficient across the eight countries by the third quarter this year. It operates in Singapore,GrabMaps, which was initially developed for in-house use, has been gradually expanding over the last five years and helps to optimise the roles of delivery riders and private hire drivers.
"We are confident that these technologies... can definitely help other companies struggling with the same issues ." Agreeing, Mr Philipp Kandal, Grab's head of Geo, said that the speed at which the map updates with new information such as new businesses and pick up points is crucial to Grab's service.
"Every day, our merchants, driver partners, and our consumers contribute to make the map better," he said.