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Ilonggo Tech Blog is a local tech blog in the Philippines. This blog is a compilation of the different technology-related information and news for the benefit of the Ilonggos and for everyone who are technology savy.
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Grab Holdings today unveiled plans for the GrabForGood Fund that seeks to support programs that will have lasting impact on the quality of life for its driver-, delivery- and merchant-partners, and the broader community of Southeast Asia.
Grab will seed the fund with US$50 million in cash and US$200 million in expected value of Grab shares. In addition, Grab Group CEO and co-founder Anthony Tan, co-founder Tan Hooi Ling and President Ming Maa have pledged a combined US$25 million in personal contribution of Grab shares (expected value). This brings the total initial fund size to US$275 million, based on today’s value expectations.