Uber's white flag in Asia

Uber again showed the white flag again. The US company is turning down business from Southeast Asia by selling it to the local competitor to avoid competition. And another Singapore-based app purchasing service provider, Grave is buying it. But not in the United States, not even in Singapore, profit mangroves in Japan The trend of avoiding competition is not new. In 2016, China's business entities have been forced or sold to Didi Chashing. Last year Russia discussed the same initiative with the same initiative. In a recent visit to Asia, Uber Chief Executive Officer (CEO) Dara Khosrowshiyhi said that Uber would be more prominent in the local market. But with the conclusions of Southeast Asia, clear, Uber really wants to rely on the North American market. According to the agreement between Grabs and Uber, Grabs will take over 62 billion people in South-East Asia and will take all the activities of Uber. In return, Grab will receive 27.5 percent shares of Uber and Grab's board of directors, Dara Khosshoshi. Interestingly, the Softbank Group of Japan, the largest investor in the two organizations, Investors' organization has influenced to avoid competition among themselves.

The reason is also clear. By 2025 South-East Asia's Ride-Sharing Services market will exceed $ 2 billion. And with the investment of Soft Bank to Grab and Uber, India's Ola and China's sister-to-crashing adds four-to-four-million subscribers to the ride-sharing services. Softbank will want to avoid competition. Because the competition is quite expensive. To continue, these companies offer discounts. In 2012, the GP started with the services of taxi service in Kuala Lumpur, Malaysia. Currently, the company operates 191 cities in Singapore, Indonesia, Philippines, Thailand, Vietnam, Myanmar, and Cambodia. Source: Bloomberg Since we invest a lot in product and technology, this agreement will continue to implement our development plan quickly. By now, we have fulfilled the promise and have been promoted to a better position in customer service, jointly with Khoshroshi CEO, Uber Uber. Anthony Tan CEO, Grab