The CEO of Grab, a popular app to book taxis, order food and make payments in Southeast Asia, has always been determined to win — from making his firm the best-funded regional start-up to defeating behemoth Uber Technologies.
On Tuesday, Anthony Tan set another record when Grab Holdings agreed to list on Nasdaq through a $39.6 billion merger deal with a blank-check company, Altimeter Growth Corp.
The transaction will be the world's largest merger involving a so-called special purpose acquisition company (SPAC). The accompanying $4 billion fundraising from global investors is also set to be the biggest ever U.S. equity offering by a Southeast Asian company.