Taxi medallion to "The Washington Post", medallions were "the best investment in America", but—due to increased competition from app-based car services and transportation network company growth from companies like Uber and Lyft—taxi medallions are now decreasing in price. In 2013, the price of a medallion was $625,000. In 2014, that price had risen to around $700,000. In 2014, a medallion was worth nearly $700,000. The total value of all medallions and assets related to them had a value of $2.5 billion in Chicago in 2013. In 2012, medallion prices ranged from $87,000 to $385,000. In 2015, Chicago's average medallion price was under
Grab (company) claimed to be doing one booking every eight seconds, or 10,000 a day, representing sixteen-fold growth within a year. In November 2017, Grab reached one billion rides with 66 concurrent rides in one second across seven countries, occupying 97% market share in the third-party taxi hailing market and 72% in the private vehicle hailing market. The company also claimed to have two million driving partners, 68 million mobile app downloads, and 3.5 million daily rides. In April 2014, the company secured more than US$10 million in series A funding from Vertex Venture Holdings (a subsidiary of Singapore sovereign wealth fund