Biggest news in Singapore yesterday was the merger between Uber’s Southeast Asia wing and Grab. This is not something new. After years of fighting and bleeding money in markets all around the world, Uber decided to try a different route and has been partnering with many of its competitors in major markets.
Exchanged its China’s operation for 17.7% stake in Didi Chuxing
On August 2016, Uber sold its China operations to Didi Chuxing (China’s leading ride hailing company). Didi invested US $1 billion into Uber (Parent company) at US $68 billion valuation. Uber on the other hand, receives 17.7$ stake in Didi. One year after the merger though, there have been feedback that it is now harder and more expensive to get a ride through Didi.
Exchanged its Russia’s operation for 36.6% stake in Russia Ride Hailing Company
On July 2017, Uber merged its Russia operations …