kfir

JUST IN: $GRAB has just announced its intention to execute its repurchase of up to $400M shares over the next 4 months. This would represent 80% of its $500M share buyback program. It has signed a $250M accelerated share repurchase with JP Morgan and a $150M collared forward purchase with Morgan Stanley.

It’s over, men.

$GRAB GRAB IS EXPANDING TO TAIWAN. They are scooping up FoodPanda’s delivery business in the region for $600M with the deal expected to close in H2 2026. Okay, I really like this. Here’s why: 1. The company has $6B in cash. We have been waiting for them to start using it in more strategic ways and this is one of the first expansions outside of SEA that makes sense given how synergistic the acquisition is to Grab’s overall business of delivery. Spending the cash pile they have on growth and expansion, especially if they can get discounted deals, is very good. 2. $UBER tried to buy this business for $1.25B last year. Regulators didn’t allow it. Grab is getting a 50% discount. 3. FoodPanda Taiwan did around $1.8B in GMV and is also profitable on an adjusted. EBITDA basis from last year. $GRAB did $14.2B of GMV last year so for $600M, they are adding 12% of GMV to the business in a profitable way. I really, really like this use of cash. Ultimately, I own $GRAB for the broader thesis around the SuperApp becoming much bigger and more entrenched in different parts of the world. They have the cash, are guiding for 20% topline and 40% ebitda growth for the next 3 years, and can use these deals to consolidate within various regions to create continued operating leverage. Their fintech business is going to begin showing significant leverage this year as well which should compound the overall growth. At these prices, I do think the stock is intrinsically undervalued BUT it is not in the thematic of drones/nuclear/energy/etc and the rising oil prices have been a very ugly headwind for them. Probably better opportunities out there short term but long term, these are the types of moves that continue to give me confidence as a shareholder.

“go find a girl and get married!” average zoomer girl:

woke up,

התקשיתי להאמין שזה אמיתי. לא בפעם הראשונה ולא פעם השניה אבל אנחנו עדים לתהליך שבו השמאל הרדיקלי של ישראל, לא רק חובר לשמאל האנטישמי של ארה״ב - קבוצה פוליטית מטורללת, מופרעת, אלימה ושותפה מלאה של האחים המוסלמים לחזון פירוק הדמוקרטיה האמריקאית - אלא הוא משלים את כל הסיבוב ומחפש (ומוצא) גם אוזן קשבת ואולי שותפות עם הימין האנטישמי, בואכה ניאו-נאצי בארה״ב. אין מה להגיד, קבוצה עם חזון פוליטי ברור.

wake up,

לכל מי שתוהה כמה מלחמות איראן תהיינה, אני מזכיר שלאריה ישנם 6 שמות.