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Grab Buys Uber’s Southeast Asia Business, Ending Service in Thailand in Two Weeks from Today

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Grab Buys Uber’s Southeast Asia Business, Ending Service in Thailand in Two Weeks from Today

by CityNews

 

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CityNews – Uber has today confirmed speculation that they will be selling their Southeast Asia business to ride-share rival, Grab and have announced that they will end service in Southeast Asia in two weeks from today.

 

News first broke in early 2018 that Uber and Grab were discussing a merger, but until today no official announcement was made. As part of the sale, the entire Southeast Asia Uber business – including ride-sharing and food delivery – will be transferred to Grab, in exchange for a 27.5 percent stake in Grab and Uber CEO Dara Khosrowshahi will join Grab’s board.

 

Uber will run for just two more weeks before ceasing operations in the region. This will give existing drivers and customers time to move to the Grab platform that will take over ride-sharing in two weeks and food delivery in late May.

 

Full Story: http://www.chiangmaicitylife.com/news/grab-buys-ubers-southeast-asia-business-ending-service-thailand-two-weeks-today/

 
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-- © Copyright Chiang City News 2018-3-26

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Uber exit hands region to Grab

By THE NATION

 

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Tarin Thaniyavarn, country head of Grab Thailand

 

RIDE-HAILING company Grab is taking over US rival Uber Technologies’ operations in Southeast Asia in the largest deal of its kind in Southeast Asia.
 

Grab chief executive and co-founder Anthony Tan yesterday said Singapore-based Grab would integrate Uber's ride-sharing and food-delivery business in the region into its multi-modal transport and financial technology (fintech) platform. 

 

With the combined business, Grab, which has a high profile in Thailand, aims to be the region’s No 1 online-to-offline mobile platform and a major player in food delivery.

 

Tan said Grab provides safe and affordable transport, food and package deliveries, mobile payments and financial services. These will be extended as it takes over Uber’s operations and assets in Thailand. Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, and Vietnam. 

 

As part of the acquisition, Uber will take a 27.5 per cent stake in Grab and Uber chief executive Dara Khosrowshahi will join Grab’s board.

 

“I would like to personally share with you some of my strongest beliefs, to reaffirm our commitment as a team to our community, as well as to offer a glimpse of what the future holds,” said Tarin Thaniyavarn, country head of Grab Thailand, in a statement released yesterday.

 

 “First of all, as a Southeast Asian and Thai, I believe that this development is a major milestone for all of us, and not just from my perspective as the country head of Grab Thailand,” he said.

 

“After all, Grab is a Southeast homegrown start-up which started its business in the region less than six years ago and in Thailand, five years ago. Who would have thought that we would be where we are today?

 

“We are now on track towards our goal of becoming the No1 ride-hailing, food delivery and fintech platform in Southeast Asia, an achievement for all of us as Southeast Asians across eight countries and 195 cities in the region.

 

“Our partnership with Uber will only fuel our drive and passion to serve our community better. We have always believed – and still believe – that we need to keep outdoing ourselves at every stage in order to earn the right to serve them. If anything, this union strongly affirms that our commitment to put the needs of our customers and driver-partners first is the right one.”

 

He expects this combination will “drive a better experience for our community” of drivers and users.

 

“With a greater concentration of jobs and available drivers, we expect to see shorter wait-times and faster pick-ups. This would mean better productivity for our drivers, and better reliability for our passengers,” Tarin. “New Grab users will be able to benefit from our unique features such as GrabRewards for passengers and Better365’for driver-partners. GrabRewards makes our users’ experience more rewarding.

 

“Meanwhile, our Better365 enables our drivers to enjoy better benefits, support and opportunities to engage with other driver-partners through special periodical workshops, sports day and get-together events. We are so excited to be given this opportunity to serve you all.”

 

 Tarin said the company would be pushing towards its next stage of growth. “This would come from serving Thais in all their most important daily needs, whether to ride, pay, dine or earn more for their families,” he said. “Today, we are already serving 90 million Southeast Asians, and empowering more than five million micro-entrepreneurs – driver-partners, merchants and agents – across the region to earn more.”

 

Source: http://www.nationmultimedia.com/detail/Corporate/30341799

 
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-- © Copyright The Nation 2018-03-27

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Posted (edited)
37 minutes ago, Justfine said:

"empowering" 

 

They are exploiting people via an app. IT geeks are the only ones making good money.

I know one happy Uber driver. He can work whenever he wants and the pay is reasonable, compared to other jobs he has done.

 

Will Uber simple cease to exist in Thailand or will they run it in parallel with Grab? 

Edited by ExpatOilWorker
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Posted (edited)

we can call ourselves lucky to be able to just wave a taxi down at any streetside in Bangkok . . .

 

if likes of GRAB and UBER take full control, it could mean one good thing - no empty taxis polluting the air while driving around looking for passengers . . . . 

 

However then you need a lot of parking spaces for taxis-on-the-wait-for-an-APP-call 

 

 . . .and you need EVERYBODY to be equipped with a Smartphone, not excluding  Grandma & Pops

 

 .. i guess the future is not very far away 

Edited by crazygreg44
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Just now, crazygreg44 said:

we can call ourselves lucky to be able to just wave a taxi down at the streetside in Bangkok

 

if likes of GRAB and UBEr take over, it could mean one good thing - no empty taxis polluting the air while driving around looking for passengers.

 

However then you need a lot of parking spaces for taxis-on-the-wait-for-an-APP-call 

Just be more empty grab cars driving around. I'd rather not make IT geeks richer.

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Posted (edited)
4 minutes ago, Justfine said:

Just be more empty grab cars driving around. I'd rather not make IT geeks richer.

 . .you might be absolutely right about that . . . Thai taxi drivers love to cram around empty . . 

 

I completely forgot . . .a GRAB driver who gets waved down can still offer a taxi ride free of the GRAB provision . . . 

 

my guess . . . GRAB will expand like crazy and the drivers are happy for the opportunity.

 

It will still mean . . .an incoming call answered by 100 Grab Taxidrivers means 99 of them have to give in to the ONE lucky driver

 

 

Edited by crazygreg44

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Just now, crazygreg44 said:

 . .you might be absolutely right about that . . . Thai taxi drivers love to cram around empty . . 

 

I completely forgot . . .a GRAB driver who gets waved down can still offer a taxi ride free of the GRAB provision . . . 

 

my guess . . . GRAB will expand like crazy

 

 

It's just hi tech network marketing. A few at the top get rich while those at the bottom do the work.

 

And if headquarters are overseas 50-70% of the money goes elsewhere.

 

 

 

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My Oz accountant tells me Uber drivers here are paying 28% of fare to Uber for use of their app. I assume that also covers the advertising and the payoffs to channel 9 for favourable "news" stories.

In recent news, a Sydney uber who had been working 21hrs straight drove away while a passenger was sill exiting the vehicle. Passenger thrown in front of a bus and killed, driver charged with neg. driving causing death (manslaughter equivalent).

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1 hour ago, ExpatOilWorker said:

I know one happy Uber driver. He can work whenever he wants and the pay is reasonable, compared to other jobs he has done.

 

Will Uber simple cease to exist in Thailand or will they run it in parallel with Grab? 

"Uber will run for just two more weeks before ceasing operations in the region. This will give existing drivers and customers time to move to the Grab platform that will take over ride-sharing in two weeks and food delivery in late May."

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Posted (edited)
2 hours ago, Justfine said:

Exactly. Running a car into the ground for IT geeks.

In Philippines I use Grab and am driven by guilt to tip at least 20% more than meter price. It's ludicrously cheap. 

Edited by harrycallahan

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BANGKOK 21 April 2018 18:08
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