Telset.id, Jakarta – Uber reportedly immediately melego its online transportation services business in Southeast Asia. According to information, Grab will be the “foster father” of the drivers of Uber Southeast Asia. As compensation, Uber requested a number of shares from Grab.
Quoted from CNBC, Saturday (17/2), Uber’s effort to release business to Grab aims to reduce the cost of the company. Because, Uber plans to sell the stock to the public this year. They do not want the financial conditions messed ahead of the IPO.
In Southeast Asia, Grab is already operating in 100 cities and controls 95 percent of the online taxi market share. Penetration they grow, unlike Uber who just dims. In Southeast Asia, especially Indonesia, Grab’s rival is just Go-Jek.
Unfortunately, asked for confirmation about it, Uber and Grab have not responded yet. However, in 2016 ago, Uber did take a similar policy. Uber gave his business in China to local competitors.
Then, in 2017 in Russia, Uber merged his business with a local company, Yandex. As compensation, Uber holds a 37 percent stake.
Since being led by Dara Khosrowshahi in August 2017, Uber is indeed a “clean-up” focus. They try to erase the bad image and tighten the financial management to be able to rise and reap the profit.
By the end of 2017, Uber’s losses increased 61 percent to 4.5 billion US dollars. This year, Uber does not want the loss worse. Therefore, Uber considers, step selling business to Grab is the right solution.
Uber himself in the year 2017 and earn revenue of USD 7.5 billion or Rp 101.6 trillion. He said, throughout the year 2017 also Uber has printed a total transaction amounted to USD 40 billion or Rp 542.6 trillion, up 100 percent over the previous year.