SINGAPORE/MALAYSIA: Anthony Tan is at the top of his game as Grab’s chief executive officer, and he admits that it has not been all smooth sailing as co-founder of the company.
The 42-year-old says it has been a rewarding but hard journey. In an interview with CNBC Make It, he said:
“… maybe it was – ignorance is bliss, and if I knew it would be so hard, I’m unsure if I would’ve done it. But is it extremely rewarding? I got the longer end of the stick, so yes… but there are many who [aren’t] as blessed.”
When asked to advise those seeking to build a business, he advises that it has to be a life calling. “If you’re ever to start again, or you’re starting for the first time, be very clear that there has to be a calling …
I really mean it, like, if you don’t feel it’s from up above, or whatever you may believe in … don’t do it because so many fail. It’s that hard,” said Tan.
He also spoke about having a support system.
His wife, Chloe Tong, left her job to join him in his quest to build Grab. He said his sacrifices were nothing compared to the sacrifices she and the others had made on the journey with him.
“If you’re doing it for the money or you don’t feel called to it, you’re going to run out of path real fast. If your support structure isn’t there … It’s very hard. I would say it’s nearly impossible.”
Anthony Tan, co-founder and CEO of Grab, grew up in one of Malaysia’s wealthiest families. When he left to pursue his own company, his father disowned him. However, Tan told CNBC that gave him the push he needed to make Grab succeed.
Watch our interview: https://t.co/bHEOcF9djp pic.twitter.com/F6MKHw555j
— CNBC International (@CNBCi) October 7, 2024
Long journey
Tan’s father is the president of the multinational company Tan Chong Motor, a publicly listed company in Malaysia. He said the one thing his father had always reminded him of was the value of hard work.
Tan works 15 to 20 hours daily and flies between two and three cities weekly.
He said that in the early days, he used to be on the field trying to recruit taxi drivers to drive with Grab by giving free coffee at petrol stations.
He also struggled with recruiting talent as he couldn’t afford to pay what other tech companies would.
“It was just constantly on the road… going to raise money because of the amount of capital required,” he said.
He added he was grateful to everyone who took a chance on him and the company and that it has been a hard journey.
Today, Grab has grown from a ride-sharing app to food & grocery delivery and offering financial services. The company has over 35 million users and employs over 13 million people.
Grab now operates in eight countries: Singapore, Malaysia, Cambodia, Indonesia, Myanmar, Thailand, Vietnam and the Philippines.
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