Booking Holdings (NASDAQ: BKNG), a Norwalk, Conn.-based online accommodations and travel e-commerce, and Grab Holdings Inc. (Grab), the Singapore based on-demand transportation and mobile services platform for Southeast Asia, have entered into a strategic partnership.
Under the terms of the deal, Booking Holdings also invested US $200m in Grab.
With the partnership, Booking Holdings’ brands will have the ability to offer on-demand transport services through their apps, powered by Grab, and Grab customers will be able to book accommodations across the globe powered by Booking.com and agoda.
Grab has raised over US$2 billion for its current round of financing and is on track to raise over US$3 billion by the end of this year.
Read more about the partnership here