After years of fighting for dominant market share, Uber has finally thrown in the towel and deciding to sell Grab a majority stake in its Southeast Asian unit to its regional competitor Grab. This decision will have important effects in the market especially for existing players such as current taxi operators. This trend is not its first as Uber is losing its market share against region-focused players such as Lyft, Didi Chuxing and Grab. A good case study to evaluate its market impacts is China.
China market
Several years before Uber conceded its Southeast Asian territory, it lost its fight in China against Didi Chuxing. The China taxi industry is huge with an estimated of 1.1 billion daily commutes. Even with such market size, the ride-hailing market has since consolidated largely between traditional taxi operators and tech platforms such as Didi Chuxing. Different from Singapore, the China ride hailing ...
