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Grab now owns the Southeast Asian business of Uber

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Confirmed! Grab now owns the Southeast Asian business of Uber. Grab and Uber, two of the most popular ride-hailing apps in the region will now unite.
Grab now owns the Southeast Asian business of Uber
Grab now owns the Southeast Asian business of Uber

According to a report by Bloomber, Uber Technologies Inc. has reached an agreement to sell its SEA business to their rival Grab. The agreement includes all of Uber's operation in the region including Uber Eats, an online food ordering company.
Grab and Uber deal

Based on a statement by Grab in their app and website, Uber and Grab will be combining operations that will create a platform that will better serve the Philippines and all across Southeast Asia.

This deal is a testament to Uber's exceptional growth across Southeast Asia over the last five years. It will help us double down on our plans for growth as we invest heavily in our products and technology to create the best customer experience on the planet. We’re excited to take this step with Anthony and his entire team at Grab, and look forward to Grab’s future in Southeast Asia, said Dara Khosrowshahi, CEO of Uber.

The other countries in South East Asia include: Cambodia, Indonesia, Malaysia, Myanmar, Singapore, Thailand, and Vietnam.

This deal will expand the company's leadership in the business. Uber will take a 27.5 percent stake in Grab. Uber's CEO Dara Khosrowshahi will join Grab's board.

Grab is now preparing to unite the platforms of Grab and Uber. This deal is the largest of its kind in South East Asia.

Sources: Bloomberg, Grab
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