About Move It
Move It is a mobile application that enables the booking and provision of on-demand services between customers and service providers. It offers services for parcel pickup and delivery, food delivery, and moto taxi ride services. The company is based in Rizal, Philippines. In August 2022, Move It was acquired by Grab. The terms of the transaction were not disclosed.
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Expert Collections containing Move It
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Latest Move It News
Nov 23, 2022
Grab to House: Acquisition of Move It is above board Grab Philippines has assured the House of Representatives that its acquisition of Move It is above board and compliant with the rules set by a technical working group (TWG) under the Department of Transportation (DOTr). Move It made the assurance on Wednesday during a hearing of the House Committee on Metro Manila Development on calls by some quarters for the government to review the deal between Grab and Move It. Move It is one of the firms taking part in the pilot implementation of motorcycle (MC) taxis. “We are happy to disclose that the acquisition complied with the law, and all approvals required for the acquisition have been obtained. It did not violate any requirement of the MC Taxi TWG,” Move It said in its opening statement read by its lawyer Ann Albana. “We wish to assure the public that the operations of Move It will still be under the supervision of the MC Taxi TWG, and it will continue to abide by MC Taxi Guidelines, especially on the safety and welfare of the consumers.” Some quarters claimed that the Grab-Move It deal was designed for Grab to have “instant accreditation” by virtue of its acquisition of Move It, which was granted accreditation by the TWG. But Move It said the arguments against it and Grab are “clearly misplaced and are merely based on speculations and conjectures.” It added that even with the acquisition, Move It continues to hold and possess the accreditation given by TWG, and it is not in any manner transferred to Grab. Even with the acquisition, Grab and Move It will remain two distinct and separate entities, it added. “Thus, it is erroneous and misleading to claim that the accreditation has been transferred to Grab by virtue of the acquisition,” Move It said. Move It said its Certificate of Compliance and Provisional Authority to Operate were not transferred to a different entity even after the acquisition. “The Certificate of Compliance and the Provisional Authority to Operate also do not require prior approval by any government agency, including the MC Taxi TWG, in case of change in ownership structure of Move It.” ‘Pro-competitive’ Moreover, Move It said the acquisition was not anti-competitive since Grab is not offering motorcycle ride-hailing services. “At present, there are other market players who appear to have a stronger presence in the motorcycle ride hailing market,” Move It said, referring to its rival Angkas. “In fact, the acquisition is pro-competitive and pro-consumer. Strengthening Move It will improve and develop competition and satisfy the increasing unserved demand for motorcycle taxis.” Because of the acquisition, Move It said it will benefit from Grab’s innovation and economies of scale, and the public “will have access to superior service at competitive pricing.”
Move It Frequently Asked Questions (FAQ)
Where is Move It's headquarters?
Move It's headquarters is located at Cabrera Rd., Barangay Dolores, Rizal.
What is Move It's latest funding round?
Move It's latest funding round is Acquired.
Who are the investors of Move It?
Investors of Move It include Grab.
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