Uber confirmed sold business in Southeast Asia to Grab

Uber has confirmed it has agreed to sell their business in Southeast Asia to competitors who have long been rumors. Grab also said the deal is the largest ever undertaken among internet companies in Southeast Asia.

Grab CEO and co-founder Anthony Tan said the merger would strengthen their position through the integration of services including Grab Food, GrabPay and other features into the Uber platform. Grab and Uber will also work together to migrate partner drivers, passengers, customers, merchant partners, and Uber Eats partners to the Grab platform.

Tinuku Uber confirmed sold business in Southeast Asia to Grab

The Uber app will remain in use for the next two weeks to make sure the Uber driver's partner has obtained more information about Grab partner registration requirements online. A source said the deal gave Uber shares between 25 and 30 percent in the combined business.

On November 10, 2017, CEO Uber Dara Khosrowshahi gave a statement that their business in the region of Southeast Asia has not been profitable. Business sales to competitors such as Grab and Didi Chuxing allow companies to focus more on businesses in the United States and Europe.