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Jack Ma Said to Explore Joining $1.5 Billion Grab Fundraising
- Ride-sharing app is raising money to battle Uber, Go-Jek
- Didi, SoftBank said to take part in current funding round
Lead Edge's Green Sees Big Opportunity for Grab in Asia
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Alibaba co-founder Jack Ma may team up with SoftBank Group Corp.’s Masayoshi Son in a $1.5 billion investment in ride-hailing startup Grab, according to people familiar with the matter.
The investment would be part of Grab’s previously reported $1.5 billion fundraising, led by SoftBank and aimed at giving the Singaporean startup cash to battle Uber Technologies Inc. in Southeast Asia, said the people, asking not to be named because the matter is private. Didi Chuxing, the largest ride-hailing company in China and a Grab backer already, is also considering participating in the round, they said.