Grab acquired Uber’s Southeast Asian operations in 2018.
The deal was announced in March 2018 and ended Uber’s direct ride-hailing operations across Southeast Asia. Grab took over Uber’s regional assets and operations, expanding its position in a market covering hundreds of millions of people and reducing a costly competition between the two companies.
The transaction covered more than ordinary car bookings. Grab also took over Uber Eats operations in Malaysia, Singapore and Thailand, helping Grab accelerate its food-delivery business. Uber received an equity stake in Grab as part of the arrangement, rather than simply selling the regional business for cash.
This event is sometimes confused with Uber’s exit from China, where Didi acquired Uber China in 2016. It was also followed by competition scrutiny in Singapore, because regulators examined whether the combination substantially reduced competition in the local ride-hailing market.