GrabTaxi secures additional funding from Vertex Venture Holdings

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Number one mobile taxi booking app by downloads and bookings in Malaysia, Singapore, Vietnam, Thailand, and The Philippines

The future of taxi booking is now, as more markets embrace mobile taxi booking in Southeast Asia.

GrabTaxi, an automated smartphone taxi booking platform, is poised to extend its leadership position and expand into new markets in the region.

Grab Taxi will be able to support an even larger number of taxi drivers and commuters, thanks to additional funding from investors including Vertex Venture Holdings, a wholly-owned subsidiary of Temasek Holdings.

Vertex Venture is the lead investor in additional funding into GrabTaxi, while another group of angel investors from Malaysia are providing financial support to this young start-up. CIMB, a leading ASEAN universal bank, headquartered in Malaysia has been appointed the main financier by GrabTaxi. 

The GrabTaxi concept was developed by two ex-Harvard Business School students back in 2011 to solve two main issues in the taxi industry – create safer and reliable rides for passengers and improve drivers’ livelihood.

GrabTaxi Founder and Group CEO Anthony Tan said, “From our humble beginnings, GrabTaxi has become the largest and most widely used taxi booking mobile app in the region. In fact, we have fifteen times more booking volume than our nearest competitors. Our own regional survey showed that we’re at the top of our consumer’s minds. More than 50 percent of them aren’t aware of any other service available except for GrabTaxi.”

“The additional investment will allow us to tap into new markets and cement our leadership position as the best and biggest taxi booking mobile app in the region. Our teams are growing and passionate about providing the best service to taxi drivers and commuters. We continue to invest in the best local talent in each market because we want to build a world class team that responds to local demands.”

Around the region

GrabTaxi is the clear industry leader in the five countries that it currently operates in. More than 250,000 people in the region use GrabTaxi at least once a month with the app already being downloaded onto more than one million mobile devices to date. There is a taxi booking through GrabTaxi every two seconds across the region.

As a humble for-profit social start-up, GrabTaxi believes that business and social value can be achieved in parallel. They believe that being a double bottom line company, which focuses on social good as well as economic benefit and enriching the lives of our two key stake holders – taxi drivers and passengers – have enabled us to come this far. 

GrabTaxi’s ‘Share your Ride’ function, which allows users to share their journey through social media or messaging apps with friends and family, has provided extra security for passengers that has never been available before. GrabTaxi also allows users to rate their drivers and view their information, giving users peace-of-mind when booking taxis. Drivers under the GrabTaxi network have experienced a 30% to 300% increase in revenue and our passengers feel safer with our service.

Tan was keen to point out that GrabTaxi takes all customer feedback seriously. 

“It is our policy to suspend any drivers and passengers found guilty of wrongdoings upon thorough investigation. Our stakeholders are always pleasantly surprised when we call them to say that action has been taken,” said Tan.

The funding

This additional investment is a testament to the effectiveness of GrabTaxi and how it has made a significant impact in the markets that they have entered. Vertex Venture funding has provided the impetus to ensure GrabTaxi moves ahead at a strong pace in each market. 

“GrabTaxi is a start-up that has shown tremendous potential and we’re confident that it will continue to dominate the taxi booking industry in the region. We invest in potential champions which have developed new technology platforms or business models that disrupt the incumbents and old inefficient ways of doing things. We clearly see GrabTaxi as one such champion in the making. We are very happy to be an investor in GrabTaxi and we will continue to provide strong support both financially and in strategic value-add to strengthen GrabTaxi leadership position in this region,” said Chua Kee Lock, Group President & CEO of Vertex Venture Holdings.

On being the proud financier of GrabTaxi, Dato' Lee Kok Kwan, CEO, Corporate Banking, Treasury and Markets, CIMB Group said, “From a home-grown start-up, to becoming a dominant Southeast Asia powerhouse in the taxi booking industry today in just 2 short years, this is a clear testament of GrabTaxi’s foresight and resolute tenacity. Similar to how CIMB had grown to become the leading ASEAN bank from our humble beginnings as a small Malaysia investment bank, we are glad to be able to support start-ups like GrabTaxi in achieving their greater aspirations.”

About GrabTaxi

GrabTaxi is a for-profit social start-up with a mission to revolutionise the taxi industry. GrabTaxi started in Kuala Lumpur and now has operations in Singapore, Philippines, Thailand and Vietnam. Runner-up in the 2011 Harvard Business School Business Plan Contest, its core product is a taxi-dispatch service with GPS-enhancements, allowing passengers to hail the nearest taxi with extreme ease. Since year 2012, tens of thousands of taxi drivers have been using the GrabTaxi smartphone-based technologies to receive bookings. 

Passengers can book taxis on their smartphones and tablets (tablets (iOS: http://bit.ly/myteksi-ios, Android: http://bit.ly/myteksi-android, Windows: http://bit.ly/myteksi-windows and Blackberry: http://bit.ly/myteksi-blackberry). with ease and great user experience.

As a humble start-up, GrabTaxi believes that business and social value can be achieved in parallel. It hopes to make a difference in Singapore’s public transportation, by making it easier, safer and more efficient to book taxis. For more information, please visit: http://www.grabtaxi.com. 

Wil Tower Construction on Schedule

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Wil Tower, considered as the tallest mixed-use condominium development in Quezon City, gains momentum towards the completion of its first tower on December 2014. An anchor development of Vista Residences, the twin-tower complex has formally opened the four-story commercial atrium last year, ready to offer high-end retail, dining and leisure experiences to would-be residents and the public.

“By December 2014, the units—in studio, one-bedroom and two-bedroom configurations—will be available for turnover to investors and residents,” says Elizabeth M. Kalaw, Vista Residences’ Division Head. “Because of Vista Residences’ solid track record in the real estate industry, the units are master planned and offered at prices that are fair to investors.

After the turnover of tower 1, tower 2 follows suit.

As soon as the first tower is turned over by December 2014, construction for Tower 2 will immediately follow suit. Investors can still look forward to the second tower which will be constructed immediately after the completion of the first tower. Just like its predecessor, Tower 2 will comprise of 42 stories, with the first four floors devoted to the commercial podium. Called Wil Tower Mall, this highlight of the development is the first of its kind in Quezon City to offer a multitude of retail choices—from upscale lifestyle brands to dining destinations such as Draft, Pho Hoa, My Thai Restaurant, Bench Fix, Starbucks and WBR (Wil Bar and Restaurant), among others.

In addition, prospective residents will also enjoy select amenities that include a swimming pool, a fully-fitted gym, a spa, an audio-video room, a game room and a day-care center.

Located along Eugenio Lopez Dr. in Quezon City, Wil Tower sits on the 3,000 sq.m. lot with an uninterrupted view of the surrounding vicinity. Aside from the amenities, the development boasts of an intelligent computer network that will manage and operate building features such as the elevators, security cameras, and fire and electrical systems. 

Designed by the US-based, international architectural firm RTKL, with Arch Haus Asia Consultants as local counterpart, Wil Tower is envisioned to combine elegance and modernity in one structure, a showstopper amid the glitz and glam of the area which is home to the two giant networks, ABS-CBN and GMA 7. The interiors gleam with high-class glamour, highlighted by the evocative chandelier by Kenneth Cobonpue located in the atrium lobby, which is comprised of acrylic-cast butterflies that change colors through an LED system and outfitted along lines of hand-hammered steel. This work of art sets Wil Tower's tone as an embodiment of imaginative sophistication in a city that is emerging as an artistic hub.

“Given the location, the design, and the prestige of the project, we knew that our prospective investors and residents would have high expectations,” said Kalaw. “We were able to address that by combining topnotch amenities and features within reasonable price points. Add to that, not too many developments can boast of a high-end mall which part and parcel of the project.”

Aside from the amenities, features and the full-fledged commercial component, Wil Tower boasts of the benefits of centralized location. As mentioned, it is in close proximity to leading broadcast networks as well as the well-appointed cafés and fine-dining restaurants of Timog Avenue and Tomas Morato. Wil Tower is mere minutes away from select malls (Trinoma, SM North Edsa, Gateway), hospitals (St. Luke’s Hospital and Capitol Medical Center) and institutions of learning (University of the Philippines, Ateneo de Manila University and Miriam College).

For more information, contact 650-0753 or 0999-887-1705 or check out Vista Residences’ website at www.vistaresidences.com.ph.

Penumbral lunar eclipse visible today

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The Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) said the eclipse will begin at 12:53 p.m. (Philippine Standard Time) and end at 6:37 p.m.

A penumbral lunar eclipse will occur today, the moon will rise in Manila at 6:12 p.m (April 15 ) and set at 5:26 a.m. the following day.

Penumbra refers to a partially shaded outer region of a shadow that an object casts. The moon turns coppery red during the eclipse as it passes through the Earth’s shadow.

A lunar eclipse occurs when the moon passes directly behind the Earth into its shadow (umbra) . This can occur only when the Sun, Earth, and Moon are aligned exactly, or very closely so, with the Earth in the middle. Hence, a lunar eclipse can only occur the night of a full moon. The type and length of an eclipse depend upon the Moon's location relative to its orbital nodes.( From Wikipedia)

When the Moon approaches closely enough to the Earth's shadow to cause an appreciable diminution of light though it does not directly touch it. 

“A penumbral eclipse occurs when the moon passes through the faint penumbral portion of the earth’s shadow,” PAGASA said.

According to the US National Aeronautics and Space Administration (NASA), Penumbral eclipses are so subtle and vaguely visible they go greatly unnoticed.

A total lunar eclipse will be observed in western Africa, western Europe, the Americas, Australasia and eastern Asia.

People in North and South America will be able to see the entire eclipse, while sky watchers in the western Pacific can catch only the last half, NASA said.

Explore the history of Middle Eastern Cuisine on Shane Delia's Spice Journey

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Embark on a culinary pilgrimage with award-winning chef, restaurateur, author and TV personality Shane Delia as he takes viewers on a spice journey across the Eastern Mediterranean and the Middle East to explore his heritage and discover food traditions that go back thousands of years. 

Premiering 15 April, SHANE DELIA’S SPICE JOURNEY airs every Tuesday at 7:00 p.m (1900 hrs) SIN/HK. Encores every Wednesday and Sunday at 10:00 a.m. (1000 hrs).

For Shane, a second-generation Australian that hails from four generations of Maltese bakers, food is more than a meal; it’s a way of life. Middle Eastern food is his passion. Beginning in his homeland where his love for cooking was born, he traces the gastronomic roots of his family while broadening his horizons by experiencing new tastes, sensations and flavours during his travels. 

Over ten half-hour episodes, SHANE DELIA’S SPICE JOURNEY spans a distance of more than 2,000 kilometres and covers 2,000 years of culinary history. From the old Phoenician outpost of Malta, where the aromatics and spices of the Middle East mingle with the European traditions of the Mediterranean, he heads across the sea to Lebanon, the original Land of Milk and Honey and birthplace of contemporary Middle Eastern mezze. He then follows the time-worn caravan trails of the spice route to ancient Persia – Iran – which is home to saffron, pomegranate, rose water…and where some of the oldest surviving recipes on Earth can be found. 

Shane tastes his way around the region learning and seeking inspiration from medieval Arab and Persian recipes passed down through generations as well as rural and regional contemporary cuisines, then heads back to his Melbourne kitchen armed with this knowledge to put his unique twist on some of the world’s most ancient and influential culinary traditions by transforming these time-honored delicacies into modern dishes. 

From the busy souks to ancient ruins and from the mountains to the beaches, experience the rich and varied cuisines of Malta, Lebanon and Iran including the Persian version of candy floss (pashmak) and what Shane considers the original dude food, falalel. 

Saha (an Arabic “cheers”)! 

About Discovery Communications

Discovery Communications (Nasdaq: DISCA, DISCB, DISCK) is the world's #1 nonfiction media company reaching 2.5 billion cumulative subscribers in 224 countries and territories. Discovery is dedicated to satisfying curiosity through 190 worldwide television networks, led by Discovery Channel, TLC, Animal Planet, Science and Investigation Discovery, as well as U.S. joint venture networks OWN: Oprah Winfrey Network, The Hub and 3net, the first 24-hour 3D network. Across the Nordic region, Discovery owns and operates SBS Discovery Media, a top-three portfolio of television brands that feature leading nonfiction content, as well as locally produced entertainment programs, sports and the best scripted series and movies from major studios. Discovery also is a leading provider of educational products and services to schools and owns and operates a diversified portfolio of digital media services, including Revision3, including an award-winning series of K-12 digital textbooks, and a digital leader with a diversified online portfolio, including Discovery Digital Networks. In Asia-Pacific, eight Discovery brands reach 590 million cumulative subscribers in 36 countries with programming customised in 15 languages and dialects.

About TLC 

TLC is a global lifestyle and entertainment destination, presenting non-scripted and scripted programming featuring real life stories and universal themes that resonate with viewers around the world. TLC's programming is told through the lens of larger than life characters and adaptable formats, celebrating everything from relationships and life stages, to makeover and transformation to food and travel. Launched in Asia-Pacific on September 1, 2010, TLC is currently distributed to over 139 million subscribers in the region. For more information, visit TLC at www.tlcasia.com.

Philips and Disney work together to light your child’s imagination

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Philips and Disney discover a whole new world of inspiration, enchantment and magic through light!

As we all know, children sometimes feel restless and unable to sleep come bedtime. Parents always think of something that will help your child sleep through the night. When you provide lampshades, lights in the dark, will establish good sleep routines. It will ensure your child to comfortably sleep.

Parents know how active their children’s imaginations are and how important it is to create an environment that helps them feel safe and comforted while stimulating their minds.

That’s why Philips and Disney have teamed up to develop a range of inspiring, magical, and playful lighting products for children, parents, and everybody young-at-heart. The new Philips and Disney range of lighting products combines Philips’ groundbreaking innovation in lighting with the magic of Disney characters and story telling to transform a child’s bedroom into a more imaginative place for them to read, play, and sleep.

At Philips, we know that light can help enhance people’s mood, wake them more naturally, help them concentrate and perform better*, or simply make them feel happier.

The new Philips and Disney lighting range has been created to inspire children’s play and magical family moments as well as provide comfort to kids through Disney characters they know and love. Whether it’s helping little ones’ sleeping and waking rituals, making playtime as vivid as their imagination, or making story time more enchanted and immersive, there is a Philips and Disney solution for every moment or stage of their day.

The Monsters Inc. SoftPals is also a good nighttime companion with its feature to introduce just enough light to ensure they feel safe and comforted throughout the night. Or you can also help them create their magical make-believe during playtime with the new LivingColors Mini Mickey & Minnie with its wide range of colors to choose from that can transport your children into an imaginary world of their own creation.

The new range of Philips and Disney lighting products comes with child-friendly features. The Smart Philips LED technology keeps the lamps robust and kind to little hands by being cool to the touch. They even have the added bonus of having an extremely long lifespan as well. Each light is also designed to ensure that there are no small parts or sharp edges to worry about, and cables can be tidied away using velcro cable binders – part of the Philips design to keep little fingers safe.

“Philips and Disney believe in creating moments and environments that improve people’s wellbeing and happiness. By bringing our collective brand, knowledge and histories together, we have created a range of safe, innovative and dynamic lighting solutions for children, parents and everybody young-at-heart,” said Ms. Fabia Tetteroo-Bueno, Philips Country Manager and General Manager for Lighting.

“We want to inspire amazing memories through delivering exciting, interactive and innovative lighting that the whole family can trust and enjoy.”

Philips and Disney lighting range:

· Philips and Disney SoftPals in Sulley and Mike from Monsters Inc., classic Mickey and Minnie Mouse - the perfect night time friends are key for setting rituals such as story time and getting your children in to the habit of sleeping through the night.

· Philips and Disney LivingColors Micro lamps in Cars, and Princess - with 64 colors to choose from, they can transform almost any imagined playground.

Philips and Disney Softpals and LivingColors Micro lamps are available in select Toy Kingdom stores.