After bowing out of China, Uber makes its second
retreat from Asia. Uber has agreed to sell its South East Asian operations to
rival, Grab, but will still hold a 30% share in the company.
CEO of Uber, Dara Khosrowshahi explains that Uber
has pulled out of the SEA market due to “fierce competition” and a lack of
profitability. The company will now shift its focus to Australia, Latin
America, Europe and the US. However, Khosrowshahi has stated that he will
continue to “invest aggressively” into South East Asia.
Uber’s bow out of South East Asia is another episode
of its continuance in a series of downfalls in the last year for the company.
The previous year they had lost 4.5 billion dollars due to competition, regulatory
violations in Europe and sexual harassment allegations from their former CEO.
Uber is currently preparing for its first public
offering in 2019.
Read the full story here
Image:
Pxhere
A law firm with licensed American immigration lawyers in Thailand can assist you with your US visa Thailand application by assisting with completion of all necessary forms and documentation.
Pxhere
A law firm with licensed American immigration lawyers in Thailand can assist you with your US visa Thailand application by assisting with completion of all necessary forms and documentation.
No comments:
Post a Comment