Grab, Southeast Asia’s leading ride-hailing app has announced appointment of Ming Maa as its President. He joins Grab at an exciting time, as the company capitalizes on the growth opportunity presented by a rising population of middle class and mobile users, most notably in Indonesia, as well as invests strategically in its mobile payments capabilities to enable a seamless daily transaction experience.
Ming will mainly look after driving corporate development activities, including strategic partnerships and investment opportunities, developing and executing on new market strategies, managing the company’s overall capital structure, and other corporate activities.
Anthony Tan, Group CEO and Co-founder, Grab commented,
Ming is incredibly strategic, and his insights from over a decade of investing in the U.S. and Asia will be of tremendous value as we continue to extend Grab’s market leadership across Southeast Asia.
He said that Grab is focused on leading the way in creating the best possible experience for users, while growing their core transportation platform and enhancing GrabPay, their payments platform. He further added,
Ming’s appointment reflects our commitment to delivering continued rapid growth and innovation, and we are thrilled to welcome him to our team.
Ming has over 12 years of finance and investment experience across the U.S. and Asia. He previously worked SoftBank Group Corp., where he was based in Tokyo and played an important role in supervising SoftBank’s investments in leading companies in the ridesharing and e-commerce industries. SoftBank, one of the Grab’s key strategic investors, has participated in April 2015 Series D investment in Grab and additional Series F investment in September 2016. Ming said,
I am delighted to join the highly-talented Grab team, and am excited to leverage my experience, in e-commerce and rideshare, to build on Grab’s success, as we create the next-generation mobile ecosystem in Southeast Asia.
Prior to his tenure in SoftBank, Ming was a Principal at Ancora Capital Management Pte Ltd based in Jakarta. He had also worked as Vice President in Goldman Sachs’ Merchant Banking Division, the firm’s global private equity group before.
Grab operates the largest transportation network in Southeast Asia and claims upto 1.5 million bookings per day. It offers private car, motorbike, taxi, and carpooling services across six countries and 31 cities in Southeast Asia.