Former Grab CTO Sues Ride-Hailing Service in Rare Public Tussle
- Ex-Facebook engineer is disputing number of shares he's owed
- Southeast Asian startup was last valued at over $1 billion
This article is for subscribers only.
GrabTaxi Holdings Pte, Southeast Asia’s largest ride-hailing service, was sued by a former chief technology officer who said it failed to grant him stock he was entitled to upon his exit.
The lawsuit marks a rare legal dispute between a senior ex-employee and one of the biggest venture-backed startups in the region’s nascent technology industry. Zhu Wei, a former Facebook Inc. engineer, worked at the company now known as Grab between August 2014 and July 2015. Zhu said he’s contractually entitled to 1.125 percent of the firm’s outstanding stock, equivalent to 22,566 shares, according to a lawsuit filed in February in the Singapore High Court.