Anthony Tan is the co-founder and CEO of Grab.
Acknowledgments
On the surface, Anthony Chan seems to have it all – family, affluent upbringing and success.
Today, he is the CEO of Grab, one of Southeast Asia’s largest technology companies, but he will be the first to say the journey has not been easy.
“Honestly, maybe – ignorance is bliss, if I’d known it was going to be this hard, I’m not sure I would have done it,” he said.
“But is it very beneficial? Look, I got the longer end, so yeah … but there’s a lot of people (who aren’t) that lucky.”
Today, the 42-year-old is co-founder and chief executive of the US-listed company, which provides everyday services such as ride-hailing, food and grocery delivery and financial services. As of 2023, the company Serve It has more than 35 million users and provides a source of income for more than 13 million people.
According to statistics, Grab currently operates in 8 countries: Singapore, Malaysia, Cambodia, Indonesia, Myanmar, Thailand, Vietnam and the Philippines, with revenue exceeding US$2 billion in fiscal year 2023 document CNBC Make It Review.
Tan’s advice to aspiring entrepreneurs
When asked for one piece of advice to budding entrepreneurs, Tan said: “This has to be your mission in life.”
“If you’re starting over, or you’re starting out for the first time, be very clear that there has to be a calling…I mean it, like, if you don’t feel like it’s coming from above or whatever you believe in… ….Don’t do it because a lot of people fail,” he said.
“For me, I believe this is actually God calling me to serve, and if I have to kneel down to serve, I will,” Tan said.
Tan also advises those just starting out to look for a strong support infrastructure.
His wife, Chloe Tong, gave up her career to join him in his mission to create Grab. “My sacrifice is
This is nothing compared to the sacrifices my wife and so many others have made to go through this journey with me,” he said.
If you’re doing it for the money or you don’t feel the need to do it, “you can get off track very quickly,” he said.
“If your support structure isn’t there… it’s going to be very difficult. I’d say it’s almost impossible.”
childhood lessons
Tan learned the value of hard work at an early age. His father is the president of Tan Chong Motors, a multinational car dealer founded by Tan’s grandfather in the 1950s and now listed in Malaysia.
“I think a lot of it is about role models… I saw how my parents worked very, very hard non-stop,” Tan said.
“My dad often reminds me, ‘Oh, your grandfather drilled this idea into our minds, and now it’s our turn to break it down, which is: when you die, you can do whatever you want. Sleep however you want.
Tan’s parents also often remind their children, “If you get so much, people will expect more from you than ordinary people,” he said.
“So, that is, work from the moment you wake up until you go to bed and try to minimize the time you sleep. So, if you can, it’s that old-school, tough love, kind of indoctrination .
“Journey of Misery”
About 12 years since the company was founded, Hard work has been a constant for Tan. He typically works 15 to 20 hours a day and flies between two to three cities a week.
“This is an uphill battle across multiple fronts,” Tan said. “Every day, we feel extremely paranoid about being defeated, failed, failed or disappointed.”
In the early days, Tan was down-to-earth, running from gas station to gas station offering free coffee to taxi drivers in an effort to get them to sign up to drive with Grab.
In addition to recruiting drivers, Tan also faces the problem of recruiting operational talents. “I can’t afford the fees of the great tech companies… so why should they join me instead of joining them,” he said.
“It’s been on the road … to raise money because of the amount of money needed.”
In the early days of his business, Tan also had to make financial sacrifices to help the company survive.
“I’m very grateful to some of the capital partners, but I remember they had a lot of influence and they said, ‘Anthony, listen, you’re going to have to take the hit yourself,'” he said.
“I had a large stake in this company and I had to significantly reduce my holdings at a deep discount so that other people didn’t have to suffer.”
“So I appreciate people betting with me and betting on me, but it’s been a painful journey,” he said.
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