They say in sport that the best teams win even when they don’t perform. On those terms, Uber seems unstoppable. The day’s big news is that the U.S. ride-hailing firm is leaving Southeast Asia after it agreed to sell its business to local rival Grab. That much is true, but claims that Grab beat Uber out […]
View More Southeast Asia exit deal is a win, not a defeat, for UberCategory: grab
Uber CEO says there will be no more global exit deals
Uber has exited three global markets by selling to rivals, but enough is enough after its deal with Grab so says CEO Dara Khosrowshahi. Following today’s announcement with Grab which sees Uber leave Southeast Asia hot on the heels of exits in China (2016) and Russia (2017), Khosrowshahi told employees that there will be no more repeats […]
View More Uber CEO says there will be no more global exit dealsUber has called it quits on another market
Following months of speculation, Uber will be no longer in Southeast Asia.
Uber has sold its ride-hailing and food delivery business in the region to competitor Grab, the two companies confirmed in a statement online on Monday.
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It’s official: Uber sells Southeast Asia business to Grab
It’s official, Uber has announced that it has sold its Southeast Asia-based business to rival Grab . The deal follows a month of speculation, and it will see Grab — which is valued at over $6 billion — buy up Uber’s ride-sharing business in eight countries in Southeast Asia. It will also take over Uber […]
View More It’s official: Uber sells Southeast Asia business to GrabUber has agreed to sell its Southeast Asia business to rival Grab
After weeks of speculation, Uber has concluded a deal that will see it sell its business in Southeast Asia to local rival Grab . The company plans to announce the agreement this coming week and potentially as soon as Monday, two sources have confirmed to TechCrunch. Full details of the arrangement aren’t fully clear at this point, […]
View More Uber has agreed to sell its Southeast Asia business to rival GrabGrab, Uber’s Southeast Asia rival, now offers micro-loans and other financial services
Ride-hailing service Grab is being heavily linked with a deal to buy out Uber’s business in Southeast Asia, but those rumors aren’t stopping it from building its fintech platform after announced a financial services unit. The Singapore-based company has been pushing itself into fintech for some time, with the most visible moment being the launch of its mobile payments service… Read More
Grab launches a bike-sharing service in Southeast Asia
After much speculation, Southeast Asian Uber rival Grab has jumped into the bike-sharing space after it launched a service in Singapore.
GrabCycle Beta will offer services from a range of services, including bike-sharing services oBike — which includes Grab as an investor — GBikes and Anywheel, plus electric scooter rental Popscoot. The project is the first to launch… Read More
Is Uber selling its Southeast Asia business to Grab?
If you read the tech press, you might have seen reports that Uber is pursuing a sale in Southeast Asia that would see Grab, its Singapore-headquartered rival valued at $6 billion, acquire Uber’s business in the region. Rumors of such a tie-in have been rife for a while. Uber sold its China business in exactly such an arrangement in 2016, and it made a similar exit from Russia last year.… Read More
Uber CEO plans to ‘invest aggressively’ to compete with rivals Southeast Asia
Uber CEO Dara Khosrowshahi has distanced the company from reports that it might exit Southeast Asia and India. Currently in India on his maiden visit to Asia as Uber boss, Khosrowshahi told an audience that the company plans to continue to invest in Southeast Asia, where Uber has slipped behind Grab and Indonesia-based Go-Jek. “We expect to lose money in Southeast Asia and expect to… Read More
Uber is reportedly preparing to sell its Southeast Asian business to Grab
Uber is preparing to sell its Southeast Asian business to Grab in exchange for a stake in the Singaporean ride-sharing company that has a big presence in that region, according to a new report from CNBC. This wouldn’t be an unfamiliar story for Uber, which was handily beaten by Didi in China before eventually caving and selling the company to the dominant ride-sharing startup in China.… Read More
Grab is adding bike-sharing to its ride-hailing service in Southeast Asia
Grab, Uber’s chief rival across Southeast Asia, appears to be getting into bike-sharing after plans for a joint service with oBike surfaced in Singapore. Last week, an eagle-eyed resident in Singapore shared photos of Grab Cycle bikes — which show an oBike logo, too — being loaded into a van. Grab declined to comment when we asked about an integration, but it wouldn’t be… Read More
Uber rival Grab acquires Indian startup to bulk up its mobile payment platform
Grab, Uber’s main rival in Southeast Asia, is continuing to develop its mobile payment strategy after it announced the acquisition of India-based startup iKaaz. The deal — which is undisclosed — will see iKaaz’s engineering team join the Bangalore-based engineering office which Grab opened last year. The firm declined to say how many new recruits are moving over… Read More