Transport Network Companies Grab and Uber merge their operations as Grab acquired Uber. Uber Technologies sold its South East Asia business to its regional rival Grab. The acquisition will drive the growth of Grab and its expansion plans in the region. It will likewise launch its food delivery service GrabFood in all major South East Asian countries in the next quarter.
According to Grab Philippines Country Head Brian Cu, “The combined services of Grab and Uber signals a wider network of TNVS (Transport Network Vehicle Services) drivers and passengers and improved ride-sharing services”. With a larger fleet, the transportation needs of passengers will be met faster. It will mean shorter waiting times and affordable rates. New users of the ride-sharing app will be able to take advantage of its loyalty programs, cashless features for transactions and real time tracking of parcels.
The Uber app will be available in the Philippines and the rest of South East Asia until April 8, 2018 only. UberEats will run until the end of May 2018 after which Uber delivery and its restaurant partners will move to the Grab platform.
Cu said: “We will continue to work and collaborate with the Department of Transportation (DOT), Land Transportation Franchising and Regulatory Board (LTFRB), local government units and other stakeholders to constantly find ways to improve our services”.
With the acquisition deal, Uber will take a 27.5% stake in the combined Uber and Grab platform.