Grab’s (NASDAQ: GRAB) market value has tanked since its widely anticipated Nasdaq debut in December 2021. After the super-app announced worse-than-expected quarterly losses, shares tumbled 37 per cent on Mar 4. This is disappointing when Grab, founded by Anthony Tan and Tan Hooi Ling in 2012, is reckoned as one of the most promising growth companies in Southeast Asia. The record US$40 billion (S$54.4 billion) merger with Altimeter Growth Corp, which is a special purpose acquisition company (or SPAC), was the biggest blank-cheque initial public offering (IPO) on record. The December debut, which raised US$4.5 billion, was also the most significant market debut by a Southeast Asian company in the United States. However, after a jump for joy at the start of trading, shares subsequently slumped by more than a fifth. Grab’s fall from grace has been as swift as it has been painful for its investors. In the last four months,...