Grab’s will take over Uber in Southeast Asia

Uber has sold its Southeast Asian business to its competitors, Singaporean rival Grab valued at $6 billion. Rumours of the sell-off have been in the air for quite some time, Uber has sold its business in similar arrangements since 2016, when it sold to Didi in China for 20 percent ownership, and in Russia where they sold to local company Yandex for a 37 percent stake. The objective of the sale? To help Uber reel in its expenses in preparation for an IPO as soon as next year. This is the end of Uber for SEA, so from now on stick to Grab or Go-Jek for any online transportation services.

Share on facebook
Share on twitter

Recent Stories

Bali Nightlife – Update June ’22

Bali Nightlife is back and on track Since things are getting back to normal, and tourists are now coming...

Read More

North Bali Airport ready to open in 2024

Image: The mock-up design. Credit: The construction of the North Bali International Airport (BIBU) initiated by PT BIBU...

Read More

Christmas New Year restrictions announced: Not so drastic

Image: Christmas in Bali. Credit: Air Asia. The government has announced a number of restrictions during the coming Christmas...

Read More

A Flying Taxi could be here in Bali soon

Image: The two seat unmanned EHang 216 in action. Credit: YouTube. An autonomous aerial vehicle, with a capacity...

Read More