26 Mar '18, 10am

Things you need to know now that Grab is acquiring Uber in Southeast Asia:

Things you need to know now that Grab is acquiring Uber in Southeast Asia:

Say goodbye to Uber in Singapore, folks. On Monday, March 26, we learned the official news that Grab has acquired Uber’s operations in Southeast Asia , including Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Advertisement Uber’s pull out from Singapore comes on the heels of its exit from Russia in 2017 and from China in 2016. Uber app in S’pore to operate for 2 more weeks as Grab confirms buying rival The American ride-hailing app company reportedly lost US$4.5 billion in 2017 — a staggering 61 per cent increase from their losses in 2016. In return for the sale, Uber will receive a 27.5 per cent stake in Grab, which represents their current market share. Here’s a short explainer on what that means for you: If you take Uber You might have received an email from Uber informing you of the change: If you still intend to be chauffeure...

Full article: https://mothership.sg/2018/03/grab-acquires-uber-explained/

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