Sunday, May 26, 2024

Uber sells PH, Southeast Asia operations to rival Grab

Users of Uber in the Philippines and the rest of Southeast Asia have only until April 8 to use the ride-sharing app before they will be required to use the platform of rival app Grab.

This is after Singapore-based Grab formally announced its acquisition of the Southeast Asia operations of its main rival Uber. However, users can still use the Uber app in more than 80 countries around the world, including the US.

Business news provider Bloomberg broke the story about the deal over the weekend. Bloomberg reported that as a result of the transaction, Uber will get a 27.5-percent stake in Grab. Uber chief executive officer Dara Kowsrowshahi will also join the board of Grab.

The sale was first floated months ago when the SoftBank Group, which has major investments in Grab and Uber, reportedly pushed for a synergy between the two ride-hailing firms. But the story died down after Kowsrowshahi commented in a news story that Uber was committed in expanding its operations in the region.

As user information will not be shared with Grab, Uber users need to register with a new account with Grab to start riding.

For “Uber for Business” customers, the services will not be supported for trips taken in Southeast Asia after the transition. Uber rides outside of Southeast Asia will still be supported through existing Uber for Business agreements.


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