Singapore’s antitrust regulator, the Competition and Consumer Commission of Singapore (CCCS) has threatened Uber Technologies and Grab that it could potentially unwind their deal unless its proposed remedies, or any further remedies, have sufficiently been able to address competition concerns and are practically implementable. On Thursday, in a blow to the Grab-Uber deal, Singapore’s antitrust…
Although these negotiations are only exploratory in nature, according to sources, they are a pointer to Uber’s intention of expanding its market to the Middle-East. As per a Bloomberg report which cites 3 sources familiar with the matter at hand, Uber Technologies is in preliminary talks with its Middle Eastern ride-hailing services rival, Careem to…
This is the biggest investment to date by an automaker in the global ride-hailing sector. On Wednesday, Toyota Motor Corp stated it has agreed to invest $1 billion Grab, a Southeast Asian ride-hailing firm, as its lead investor in its current funding round which was launched after it bought Uber Technologies’ regional business. Toyota’s move…
Grab Ventures will be the vehicle through which Singapore-based Grab will expand beyond ride hailing services into areas including financials, food services and logistics. On Tuesday, Singapore-based Grab, launched launched its innovation arm, Grab Ventures in order to support and develop technology start-ups in sectors including food services, transport, financial services, logistics. The development assumes…
The development marks a signs of thaw in what has been earlier a strained relationship. With Dara Khosrowshahi at its helm, Uber’s rough edges are getting more polish. In a development that marks the possibility of thaw in what was earlier a strained relationship, Uber’s CEO Dara Khosrowshahi stated, Uber Technologies Inc is in talks…
Malaysia will be the second market in which Grab has launched its e-wallet service. On Monday, both Grab and Malaysia’s biggest bank, Malayan Banking Bhd stated, they will collaborate to boost the adoption of the ride-hailing firm’s GrabPay mobile wallet. In the coming weeks, Grab, which received its e-money license from Bank Negara Malaysia in…
The Chinese ride-hailing firm is expecting to mop $70-$80 billion through its IPO. On Tuesday, a report by the Wall Street Journal stated citing sources familiar with the matter at hand, Didi Chuxing, a Chinese ride-hailing firm is in talks for holding its multi-billion-dollar initial public offering (IPO) sometime this year. Didi Chuxing is expecting…
Although this is Uber’s second such retreat from Southeast Asia, the deal suggests that Uber is taking a defensive positioning for a potential counter-offensive especially with its CEO Khosrowshahi gaining a foothold in Grab’s board. On Monday, in a move that marks Uber Technologies Inc’s second retreat from the Asian, the ride services firm has…
Analysts at IHS Markit see global autonomous vehicle sale touching 33 million units ub 2040, while Goldman Sachs has predicted that the ride-hailing market will grow 800% by 2030 and be five times the size of the current taxi market. In a strategic development, Nissan Motor Co has taken the first steps towards becoming an…
Sony Corp is the latest tech firm vying for market share in Japan’s highly regulated ride-hailing market and is set to partner with Daiwa Motor Transportation and 4 other domestic Japanese taxi firms for the same. On Tuesday, Japan’s Nikkei newspaper reported, Sony Corp is to become the latest tech firm which is jockeying for…
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