Grab founder to have 60.4% controlling interest despite owning a 2.2% stake if SPAC deal goes through

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www.ft.com/content/4e23cd61-1a8d-4dc5-aba1-8565fce31882

no paywall version: asia.nikkei.com/Business/Business-Spotlight/Grab-s-40bn-SPAC-plan-puts-CEO-Anthony-Tan-in-driver-s-seat

Grab, the Southeast Asian ride hailing + food delivery + fintech + more buzzwords company receives a $40bn valuation and its founder retains 60.4% voting rights?!

According to the FT article I linked, this is similar to mark zuccy and facebook. Grab is getting a deal like facebook’s! Despite strong competition against all of its businesses (Gojek, tokopeda, ant financial, Sea Ltd, foodpanda, etc etc) the market is still willing to prop up this corporate dictatorship with a $40bn valuation?

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Guy literally sold the cake and still be eating it.

 

h/t throwawayplsremember

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