We may soon have to say goodbye to Uber
It’s exiting the Southeast Asian market
Mar 12, 2018
Just when we think the issue with ride-hailing apps has settled, Uber shakes the status quo again, this time by striking a deal to sell its Southeast Asian operations to—here’s the shocker—its rival, Grab.
In a report by Bloomberg, Uber will be buying around 20 percent of stakes in Grab, in exchange for selling its operations. This apparently isn’t the first time Uber will be selling its operations for equity in rival companies. In 2016, Uber also struck a deal with Chinese ride-sharing service, Didi Chuxing.
This deal will ultimately end the “battle for leadership in Southeast Asia’s fast-growing ride-hailing market,” according to Grab co-founder and Chief Executive Officer Anthony Tan.
The deal is set to be finalized in a few weeks. What this means for us riders—aside from having just one go-to app now—is still unclear, especially in light of last year’s LTFRB issue. Frankly, we too have a lot of questions. How will this affect the ride fares? What will happen to Uber drivers? How will our government respond? All we can do for now is to wait and see, it seems.
What do you think of this recent development? Let us know in the comments.
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