Uber's exit a reminder to startups: you can't burn cash indefinitely
SoftBank seen as winner as sale of Uber's SEA business to Grab will cut losses for both businesses in which it has major stakes
Add BT as a preferred source
Singapore
THERE were five - and then there were two, and now it's down to just one.
Grab's confirmation on Monday of the long-speculated acquisition of Uber's South-east Asian business comes amid a cutthroat ridehailing battle in the region, where in Singapore alone, three other players (Hailo, Easy Taxi and Karhoo) have been forced off the roads in the last five years. Uber - which will sell its transport and food delivery operations to Grab - will be the fourth player to exit the race here.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
New EC rules to cool prices: MOP doubled to curb flipping, no more deferred payments and more units for first-timers
Singapore Instagram seller must pay Louis Vuitton S$510,000 in damages over counterfeit goods case
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
