SINGAPORE -- Singaporean startup Grab marked a net loss of over $1 billion for the fourth quarter of 2021 on heavy investment toward growth, showing that profitability remains a key challenge for the superapp operator as it faces strong competition.
In its first quarterly results released since listing on Nasdaq in December, Grab on Thursday reported a net loss of $1.055 billion for the three months through December, widening from a $576 million loss a year earlier. The annual loss reached about $3.4 billion, compared with a $2.6 billion loss in 2020.
