If you have used Uber or Grab, you will know all about its long time feud. Well, looks like the feud is over because Grab now officially owns Uber. That’s right, after months of rumors and speculations, the two ride-hailing firms are merging.
The deal has given the US ride hailing company, Uber a 27.5% stake in Grab and Uber’s CEO, Dara Khosrowshahi, will be joining the Singapore-based company’s board.
Grab not only gains Uber but UberEATS as well and will now be the leading ride-hailing service in South East Asia (outside of Indonesia) with no direct competitors.
According to Sandra from BBC, Uber racked up a hefty loss of $4.5billion dollars in 2017, it is no wonder that the US ride hailing giant has agreed to this sale.
Just a mere 5 hours ago, Uber Singapore shared this tweet:
We’re excited to share that Uber will be joining Grab in Singapore and across Southeast Asia. We can’t wait to better serve our millions of riders, driver-partners and communities, as one. Find out more about how we’re serving you better at https://t.co/j9cPqkIf0w pic.twitter.com/1NhxzmosoK
— Grab Singapore (@GrabSG) March 26, 2018
According to the Inquirer.net, Uber will only be accepting bookings until the 8th of April. After which, all bookings will be then made using the Grab app.
However, what does that mean for Uber employees? According to a tweet shared by an employee, they received a two hour notice to evacuate. Question is, how true is this?
You all heard that Grab bought over Uber. No biggie to some. It affects the whole office when you received 2hour notice to leave. Yes the whole office evacuated the building. #jobless pic.twitter.com/lhruwAVmAc
— Syahrizad (@Syhrezd) March 26, 2018
Sally Bundock from BBC sums it up:
— Jonathan Josephs (@jonathanjosephs) March 26, 2018
While some may be rejoicing over this merger, there are a lot of unanswered questions. What does this mean for consumers? Are the rates going to be higher now that there is only one ride hailing service? Do we get promo codes like we did for Uber? What is going to happen to all those who drive for Uber, will they be asked to drive for Grab instead? What is going to happen to the employees of Uber’s South East Asia operations?