Grab Buys Investment App Stash At $425 Million Valuation After Posting First Full-Year Profit |
Southeast Asian ride-hailing and food delivery giant Grab Holdings is acquiring digital investment platform Stash Financial, broadening its financial services footprint as the superapp becomes profitable.
Under the cash-and-stock deal, Grab will buy U.S.-based Stash in two tranches. It will acquire 50.1% of the company based on an enterprise value of $425 million, while the remaining stake will be bought based on fair market value in the next three years, the Singapore-based company said in a statement. The transaction is expected to be........