Uber has been hitting the headlines recently, all for the wrong reasons.
From uberEATS delivery guy stealing parcel left outside the door
To the government still deciding if the Uber-ComfortDelgro alliance is valid or not.
To add a cherry to the cake, Uber is rumoured to be selling its business in Singapore to Grab.
I’m pretty sure you know why that’s bad news, right?
Without intense competition between both firms, you can bet your ass that fares are going to increase.
And drivers, don’t be too happy cuz your incentives are going to suffer too. After all, there’s no place else for you to jump ship to liao.
If you feel the same way we do, don’t worry because Uber might not be selling its business to Grab.
So how did the rumours of Uber selling Singapore to Grab came about?
According to CNBC who reported on the rumours, they cited unnamed sources who are familiar with the matter that Uber is preparing to sell its business in Southeast Asia “in exchange for a sizable stake in the company.”
Uber lost USD$4.5 billion in 2017 and Southeast Asia is said to be the most expensive and competitive region for them.
They received a cash injection from SoftBank, making them the largest stakeholder in Uber.
Softbank is a Japanese group with stakes in Singapore-based Grab and wants Uber to get out of Asia and concentrate on growing in the United States, Europe, Latin America and Australia.
But Uber new CEO, Mr Dara Khosrowshahi, dismissed that strategy on his first official visit to Asia.
What a badass.
Uber CEO says they’re going to invest even more aggressively in Southeast Asia
Mr Khosrowshahi said that Uber expected to lose money in Southeast Asia region, but it’s still prepared to invest aggressively here.
He believed that there is potential for growth in this region with the huge population and fast internet user growth.
He said, “We will look at anything…But right now the plan for Southeast Asia is to go forward, lean forward and to invest.”
So there you go, a high chance that there’ll still be two private-hire firms in Singapore.
Obviously, we don’t exactly fit the criteria of a big population. And potential room for growth obviously points to less developed countries like India.
But hey, at least for the foreseeable future, Uber is still going to be fighting with Grab, right?
That’s if the Uber-ComfortDelgro alliance becomes official lah.
Would you want Uber to stay in Singapore?
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This article was first published on goodyfeed.com
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