The winner behind the sale of Uber to Grab in Southeast Asia
Grab has started to dominate the ride-hailing industry across Southeast Asia. Uber Technology Inc., once the major ride-hailing company, has announced to sell its operations in Southeast Asia to Grab as to withdraw from the war of fierce local rival. It is just part of the reasons that Uber wished to withdraw the operations from Southeast Asia; the main reason is that Uber is changing their plan and emphasize their operations towards its core market. The relationships between Softbank and Uber In the late last year, 2017, Uber announced that Softbank would be their long-anticipated investor. After a month of formalities, Softbank successfully became part of Uber and took up to 2 chairs in the Board of Uber and stood 14% of stakes. Softbank plays a consolidating role that to help Uber in maximizing their profit. In order to maximize their profit, Softbank held Uber to re-think the operations in Southeast Asia, thus, eventually, Uber agreed to sell its operations and took ...