Southeast Asian Ride-hailing App Grab Raises $2.5 Billion

JAKARTA, Indonesia (AP) — Japan's Softbank and China's top ride-hailing firm Didi Chuxing are pouring $2 billion into the latest round of financing by cash-hungry Southeast Asian taxi app Grab. Grab is seeking to dominate the market for car and motorbike hailing in Southeast Asia, where it competes with traditional taxis and rival apps such as Uber.

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