Latest in Gear

Image credit: Edgar Su / Reuters

Uber is reportedly preparing to sell its Southeast Asia business

CNBC reports the deal with Grab could help clear the way for an IPO.
995 Shares
Share
Tweet
Share
Save

Sponsored Links

A driver checks his McLaren taxi after a photoshoot for taxi-booking app GrabTaxi's fleet of seven luxury cars in Singapore September 15, 2015. 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
995 Shares
Share
Tweet
Share
Save

Popular on Engadget

OnePlus reveals official 7T photos ahead of next week's launch

OnePlus reveals official 7T photos ahead of next week's launch

View
Philips' new Hue Play box syncs your lights with your TV

Philips' new Hue Play box syncs your lights with your TV

View
NBCUniversal's streaming service will be called Peacock

NBCUniversal's streaming service will be called Peacock

View
Bill Gates (still) doesn't think regulators should break up Big Tech

Bill Gates (still) doesn't think regulators should break up Big Tech

View
Apple pours another $250 million into iPhone glass supplier Corning

Apple pours another $250 million into iPhone glass supplier Corning

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr