Notice: amp_is_available was called incorrectly. `amp_is_available()` (or `amp_is_request()`, formerly `is_amp_endpoint()`) was called too early and so it will not work properly. WordPress is currently doing the `pre_get_posts` hook. Calling this function before the `wp` action means it will not have access to `WP_Query` and the queried object to determine if it is an AMP response, thus neither the `amp_skip_post()` filter nor the AMP enabled toggle will be considered. It appears the theme with slug `publisher` is responsible; please contact the author. Please see Debugging in WordPress for more information. (This message was added in version 2.0.0.) in /home/runcloud/webapps/techilive/wp-includes/functions.php on line 5313
Grab to raise ride-hailing fares by $1 from June to improve driver earnings - TechiLive.in

Grab to raise ride-hailing fares by $1 from June to improve driver earnings

0

Grab announced today (May 25) that it will raise its ride-hailing fares by S$1 starting from 10am onJune 1. The move comes as an attempt to improve driver earnings, said the ride-hailing giant.

The raise in fares will apply to all of Grab’s transportation services, except for its standard taxi booking service, its carpooling service GrabHitch, and its GrabCoach service, said Grab Singapore’s managing director for transport Andrew Chan in a message to drivers.

Grab said that commissions will not be charged for the $1 increase in base fare, from 1–30 June 2021 to further support its driver-partners during these uncertain times.

Loading...
Image Credit: Grab

It will also be giving back S$1 to users for peak hour rides from 1 to 14 June 2021, with the promo code ‘STAYSAFE’.

It is the firm’s first fare hike since 2017, and the second time Grab is adjusting the prices of its ride-hailing offerings after competition watchdog the Competition and Consumer Commission of Singapore lifted restrictions on it in November last year.

From April 22 this year, Grab raised the platform fees for GrabFood and GrabMart to S$0.30 per order. Prior to that, the fees were S$0.20.

Loading...

Grab said that the platform fees will go towards maintaining current features and developing new ones. The fees will go towards investments in three areas — safety, security and efficiency.

Grab’s intentions to go public

Grab announced on April 13 that it intends to go public in the United States in partnership with Altimeter Growth Corp (Nasdaq: “AGC”).

It is expected to be the largest-ever US equity offering by a Southeast Asian company. The combined company expects its securities will be traded on NASDAQ under the symbol “GRAB” in the coming months. 

Loading...

The proposed transactions value Grab at an initial pro-forma equity value of approximately US$39.6 billion (S$53.16 billion) at a PIPE size of more than US$4.0 billion (S$5.37 billion) and will provide Grab with approximately US$4.5 billion (S$6.04 billion) in cash proceeds.

Grab’s plans to list via the SPAC route comes after after talks to merge with Indonesian ride-hailing rival Gojek fell through. 

Grab’s decision to become a public company was driven by strong financial performance in 2020, despite COVID-19. At the same time, the company has made significant strides towards profitability, with a key focus on building a resilient business and delivering sustainable growth.

Loading...

Featured Image Credit: Bloomberg

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

Loading...

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest LifeStyle News Click Here 

 For the latest news and updates, follow us on Google News

Loading...

Read original article here

Denial of responsibility! TechiLive.in is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – admin@techilive.in. The content will be deleted within 24 hours.

Leave a comment