SoftBank, Alibaba and Didi Chuxing raise $1.5 billion for Grab

Tinuku ~ SoftBank's founder Masayoshi Son, Alibaba Group's founder Jack Ma and China's ride-sharing founder Didi Chuxing collaborated in raising US$1.5 billion to invest in Grab's online transport application provider. Huge funds to strengthen Grab fight Uber and Go-Jek in Southeast Asia as the largest online transport business market.

Tinuku SoftBank, Alibaba and Didi Chuxing raise $1.5 billion for Grab

A source revealed information that Didi Chuxing as one of the founders of China's largest online transport company is also considering participating in this funding.

Jack Ma's funding could come from Alibaba Group Holding Ltd as well as its affiliates in the field of payment, Ant Financial. Collaboration with Grab also allows Jack Ma to bring digital payment services from Ant Financial are Alipay to millions of users in Southeast Asia. SoftBank, Alibaba and Didi Chuxing raise $1.5 billion for Grab

Alibaba wants to seize the dominance of Tencent Holdings Group Ltd. In this region has been rumored to provide fresh funds valued at US$16.2 billion for Indonesia-based online transportation company Go-Jek.

Two Chinese Internet giants are trying to find business fortunes abroad after the growth of the market in the country is slowing down. Alibaba and Tencent focus on Southeast Asia, which has twice the population of the United States.

Both also continue to strive for various parties to use their digital payment services to the global market. Online transport services are believed to be the most important channel to help both companies win market share.