"All Uber employees in its SEA operations will receive offers to join Grab". Only those who have been suspended or removed from Grab previously will not be allowed to re-register.
To minimise disruption, Grab is committed to cooperating with local regulators in relation to the acquisition and alongside Uber they are working to promptly migrate Uber drivers, riders, customers and merchant partners to the platform. Check out the Grab site or the GrabFood site for more details. The deal will also see Uber CEO Dara Khosrowshahi joining the board of Grab.
A source familiar with Uber's strategy said the company was going to step up its battle with Ola in India, another competitive and costly market where rivals have heavily subsidised rides in an effort to gain market share.
Uber once wanted to expand all over the world, but on Monday it added to its list of big strategic retreats-with a little encouragement from its biggest investor these days, SoftBank.
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The deal represents another major retreat from global markets for Uber, following its withdrawal from China in 2016 and Russian Federation in 2017. The value of the deal has not been disclosed yet.
Under the agreement, Grab will acquire all of Uber's operations in a region of 620 million people, including food delivery service UberEats.
Grab's deal with Uber would be similar to the one struck in China in 2016, when Didi Chuxing bought out Uber's China business and handed over a stake in return. "Khosrowshahi has been maneuvering to make the company profitable before a planned initial public offering expected next year".
In a statement announcing today's deal, Tan said: "We are humbled that a company born in Southeast Asia has built one of the largest platforms that millions of consumers use daily". Early previous year, Didi invested $100 million in USA -based Lyft, Uber's main rival at home. The merging of Uber Eats will further give Grab an advantage over Go-Jek, which also has a vast range of services apart from ride hailing.