Anthony Tan, co-founder and CEO of Grab, comes from one of Malaysia’s wealthiest families, with his father being the president of Tan Chong Motor. Despite growing up in a privileged environment, Tan felt a strong desire to create something that could be a force for good. In 2011, Tan and his co-founder Hooi Ling Tan decided to take on the challenge of revolutionizing the Malaysian taxi system, which was notorious for being unsafe, especially for women. They drafted a business plan and won a startup contest at Harvard Business School, using the prize money as seed funding for Grab, which now serves over 35 million customers and provides 13 million gig jobs across eight countries in Southeast Asia.
Tan’s journey to starting Grab was not easy, as he faced skepticism from his family, who expected him to return from his studies and work for the family business. Despite his father’s initial doubts, Tan persisted and eventually received an investment from his mother, who became Grab’s first individual investor. Tan also invested all his savings into starting the company in 2012. The early years of Grab were challenging, with the team working long hours in a small, unventilated office in Kuala Lumpur. Tan personally traveled across Southeast Asia to convince taxi drivers to join the platform, often resorting to creative tactics like giving out free coffee to drivers in Vietnam to pitch Grab.
In 2018, Grab acquired Uber’s Southeast Asia business, solidifying its dominance in the region. The deal established Grab as the leading super app in Southeast Asia, offering services ranging from ride-hailing to food and groceries delivery, as well as financial services like payments and lending. Despite facing antitrust allegations from critics and regulators, Grab has transformed the way people in the region go about their daily lives, providing access to essential services for those at the bottom of the economic pyramid. The company went public in the U.S. in December 2021, with a market cap of over $14 billion.
Tan’s vision for Grab goes beyond simply providing services; he aims to serve an underserved market and help empower individuals by understanding their specific needs. Through initiatives like micro-financing programs, Grab enables people to access opportunities that were previously out of reach. Tan’s commitment to serving the community and addressing real societal problems has been a driving force behind Grab’s success. Despite the challenges and sacrifices he faced in the early days of the business, Tan’s determination and dedication have paid off, making Grab a powerhouse in the Southeast Asian tech industry.
