Latest in Gear

Image credit:

Uber is reportedly preparing to sell its Southeast Asia business

CNBC reports the deal with Grab could help clear the way for an IPO.
Richard Lawler, @Rjcc
February 17, 2018
Share
Tweet
Share

Sponsored Links

Edgar Su / Reuters

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.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
Tweet
Share

Popular on Engadget

SpaceX scales back plans for Starship's first high-altitude flight

SpaceX scales back plans for Starship's first high-altitude flight

View
Windows XP source code leak sheds light on Microsoft's OS history

Windows XP source code leak sheds light on Microsoft's OS history

View
SpaceX's reused rockets will carry national security payloads for the first time

SpaceX's reused rockets will carry national security payloads for the first time

View
Honda's electric SUV concept is a peek at a production vehicle

Honda's electric SUV concept is a peek at a production vehicle

View
Here's everything Amazon announced at its big hardware event

Here's everything Amazon announced at its big hardware event

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr