The immense pressure to accelerate the path to profitability has pushed Singapore-headquartered Grab to advance the breakeven timeline for its delivery businesses – which comprise food, groceries and logistics.
The new timeline, which is a shift of one quarter for food deliveries and two for the entire segment, follows lower fixed costs and a tapering of the incentives that the riders had been receiving, CEO Anthony Tan detailed in Grab’s earnings call on August 25.