Uber reportedly preparing to sell its Southeast Asia business

Late last year Uber sold off its business in China to a competitor, and now it looks like the Southeast Asia region could follow a similar path. CNBC reports that it’s preparing to make a deal with Grab, a company that claimed to have 95 percent of ride-hailing business in the region last year. Grab was in the middle of raising a $2.5 billion round of investments from sources including (recent Uber investor) Softbank when it made that claim, and the rumored deal would give Uber a “sizable” stake in its competitor. If this happens, it could, like the company’s settlement with Waymo over trade secrets, help Uber pave the way for an IPO soon.

Source: CNBC

Source: Engadget - Read the full article here

Author: Daily Tech Whip

This article is part of our 'News Tiles' service. The site is currently in Beta. When it is fully operational you will be able to search through and arrange the 'Tiles' to display a keyword, product or technology over your chosen time period. For example you would be able to display all of the leading tech articles on the new Kindle Fire, in one spot in real time. You will also have access to our own original reporting and analysis as well as a polished place to post your own thoughts & reviews here, amongst the Daily Tech Whip Community. Please let us know if you have any feedback via the contact form or via Twitter. Don't forget to come back next week and see our full site and claim your name and your own free tech blog.

Share This Post On