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Uber sells its Asian division to Grab, its main competitor, and retires from Asia

Uber sells its Asian division to Grab, its main competitor, and retires from Asia
Territorial aspects April 28, 2018

Uber Technologies has reached an agreement with the Grab platform, its main competitor in Asia, to sell its division in that continent.

This, in turn, means that Uber is withdrawing permanently from Asia, since in 2016 and 2017 it already reversed its operations in China (where it merged with the Didi platform) and Russia. Grab operates in 195 cities in eight Southeast Asian countries and has been downloaded to 90 million mobile phones.

In this way, Uber’s services are integrated into Grab, in an operation that means that “Today’s acquisition marks the beginning of a new era”, according to Anthony Tan, co-founder of Grab. Its website is here.

More information here or here.