Singaporean tech giant Grab has agreed to go public through a SPAC (Special Purpose Acquisition Company) merger. It’ll merge with US-based Altimeter Growth Corp, backed by Altimeter Capital. According to a report from Reuters, through this deal, the firm would be valued at nearly $40 billion. Because of its varied offerings such as ride-hailing, digital payments, and food delivery, the company’s valuation has doubled in the last 18 months. The deal also brings a $4 billion-plus investment for Grab under PIPE (private investment in public equity). Altimeter Capital is leading that front with a $750 million contribution; other investors include BlackRock, Fidelity International, Janus Henderson…
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