In the vast growing business sector, there are a huge number of evolving new startups in all industries like health, technology, fashion, etc. Startups come up with new innovative ideas, that can solve the problems in the world. According to the survey of 2022, there are about 150 million startups in the world with 50 million new startups emerging every year. There is a huge competition in the business, everyone wants their company and be independent and profitable. This article lets us learn about the startup company named Grab which has made immense growth in Southeast Asian countries.
Inception of Grab
Grab Holding Inc. is a multinational technology company that is Singapore-based Malaysian, founded by Anthony Tan and Tan Hooi Ling in 2012, in 2016 it was renamed Grab. Grab is the first and biggest technology startup in the Southeast Asian region it was initially started with just a taxi-booking mobile app and now provides multiple services including riding, food delivery, Grab Pay, deliveries, Grab Mart, financial services, business, and others. Grab in today’s date provides both online and offline services in almost 500 towns and cities in Southeast Asia by transforming the way people live, work, and connect across the region.
Business growth and model
Grab started with online taxi booking through a mobile app and started its service online. With its online platform people looking for a ride were able to find the drives and connect with them for the service. In this model, it made transportation easier by connecting people and made the task easier, and hence the service was used by mass people. Now it has across 2.8 million drivers with 6 million in a day, by the same business model it has increased the growth in sectors like food, Grab pay, delivers, etc.
Customers seek the best service provider to trust and make the task easier. Grab solves all the issues that occur in the platform and though there is no direct employment, it bears the high risk for maintenance and service.
Another important business growth hack is marketing this company made social media marketing and email marketing a tool to reach many people and create the brand. Collaboration with local bodies and making them use the service will make a big impact along with which there is the engagement of local people by doing offline campaigns and demos to use the app.
Working on the feedback can give the cutting-edge to business where people often value the brand that meets their expectations and needs. When you listen to the queries and take the initiative to solve them it can kill the problem and make the other customer usage easy. Another important point to be noted in the startups is USPs, because USPs are the key feature that will attract the customer, and hence growth can be easier along with maintenance. One such unique feature of GRAB is safety which is what all need on the information that is provided by them.
Technology, when your startup is based on online service there must be strong and efficient software to be used. As every data of the user is very necessary for the analysis there must be a good database and backup software. The user-friendly app makes the service easy and there must be smooth functioning without any regular glitch occurrence. Mainly the financial and payment mention should be done easily because money is the ultimate source for both the user and provider. The other startups make use of technology less they should work on the website and social media marketing more.
Conclusion
In short, as there is a high rise in the emergence of startups there is also a very high rate of failure of the startups. All have the urge to do something big and make money but the path we follow must all be right and goal-reaching. Once you start there should be thought to step back facing the hurdler and failure is the key to success. The usage of unique strategies and working on emerging markets. Startups as small firms can embrace change and upgradation easily in a cycle of business and you can be the first in the race.