Bad news for Filipino commuters, Uber, a ride-hailing service in the Philippines is set to end operations soon. According to media report, Uber has made a business decision to close a deal with Grab for its South-East Asia operations, which has been in the news recently.
The deal involves Grab purchasing Uber’s operation in South East Asia in exchange for a stake at Grab’s board. Uber’s new CEO, Dara Khosrowshahi has been pushing to clean up company’s financials in preparations for an initial public offering in 2019.
Now it looks like Grab will no longer have a big competitor making it the only ride-hailing service in the country. Meanwhile there are other small players like Wunder, Angkas and MiCab which offer similar services at reasonable prices.
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