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Grab raises prices in Singapore; drivers keep 100% of earnings for June 2021.

Just last year, Grab introduced a 'platform fee' for rides.


Grab raises prices in Singapore; drivers keep 100% of earnings for June 2021. | BEAMSTART News

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Grab, the Southeast Asian ride-hailing giant, has started raising prices for its services again.

In an announcement earlier today, Grab mentioned that the company will be charging an additional SGD $1 for their ride-hailing services in Singapore.

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Key Highlights

  • Grab has risen its prices by an additional SGD $1 for ride-hailing services in Singapore.
  • The firm mentions that the move was aimed at "improving earnings for its drivers".
  • 100% of the earnings from the price hike will go to drivers for the month of June.
  • Grab did not mention any changes to prices in other countries they operate in.

Why It Matters

  • While 100% of the additional earnings will go to drivers for the month of June, Grab's standard commission structure of 20% will kick in after.
  • Grab has been on a heavy spending spree for the past few years, and this move could transition the company towards profitability in Singapore.
  • Just last year, Grab also introduced an additional $0.30 "platform fee" for ride bookings.
  • The additional $1 increment at scale could potentially boost Grab's top-line revenues by an additional 1% - 3%, assuming average rides cost between $7 - $20.

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