Uber's taxi U-turn sets a better path in South-east Asia
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Singapore
UBER'S entire business has been predicated on flooring it right at the establishment. Co-founder Travis Kalanick once said his company was in a campaign where "the incumbent is an a*****e called taxi". New boss Dara Khosrowshahi just pulled a U-turn in Singapore by striking a deal with ComfortDelGro, the powerful local cab operator.
It has been a rough ride for Uber in South-east Asia. As with the rest of the continent, cut-throat competition against deep-pocketed peers caused the company to burn through billions.
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