Uber

Why investors should avoid hitching a ride on Uber's IPO
SINGAPORE (Apr 22): Investors who found some way to short the stock of Lyft, the No 2 ride-hailing player in the US, have had a great ride since its IPO three weeks ago. Lyft’s stock plunged to US$56.11 on April 15, down 22% from its IPO price, or 35% below its first trading day highs. There is a sense of déjà vu for tech investors. In May 2012, the much-anticipated IPO of social media ...
Briefs
SINGAPORE (Apr 15): “The patience of Ecuador has reached its limit on the behaviour of Mr Assange.” — Lenín Moreno, Ecuador’s president, on the decision to allow UK police to arrest WikiLeaks founder Julian Assange, who faces accusations of rape. Assange has called Ecuador’s embassy in London home since 2012. UK and EU agree to delay Brexit until Oct 31 With less than 48 hours ...
Grab, GoJek, Didi and why it's hard to find winners in the few really successful EMs
SINGAPORE (Feb 18): They say there is no such thing as bad publicity. For GoJek, at least, the recent altercation between one of its drivers and a female passenger, who turned the phrase “Is it because I’m Chinese?” into a popular meme, has arguably done more to promote its brand than any carefully crafted marketing plan could have. More than a fortnight after the whole incident, many ...
Grab raises US$150 mil from Yamaha
SINGAPORE (Dec 17): Grab is attracting more global backers after the ride-hailing service defeated Uber Technologies Inc. in Southeast Asia. A motorcycle maker has become the latest investor. Yamaha Motor Co. agreed to invest US$150 million ($205.7 million) in Grab and the two will collaborate on motorcycle-ride services in Southeast Asia with a focus on Indonesia, the Japanese manufacturer ...
Ride-hailing rivalry, goodies unlikely to return to 'good old days'
SINGAPORE (Oct 31): DBS Group Research says the competition and level of subsidies seen during the Grab vs Uber era are unlikely to return. This is because the outcome of the first round of competition has not been particularly smooth for the players and the acquisition of Uber’s Singapore operations by Grab had resulted in fines by the competition watchdog. On Monday, Grab’s next rival ...
Singapore's competition watchdog fines Grab and Uber but can fair play resume?
SINGAPORE (Oct 1): Choo was earning up to $5,000 a month when he first started driving for ride-hailing start-up Grab some three years ago. But after a merger between Grab and Uber Technologies in March this year, the 66-year-old, who asked to be identified only by his last name, has seen his monthly earnings nearly halved. And Choo is not alone. According to the Competition and Consumer ...
Competition watchdog slaps $13 mil fine on Grab, Uber over merger
SINGAPORE (Sept 24): The Competition and Consumer Commission of Singapore (CCCS) has fined Uber and Grab a total of $13 million after the merger of the ride-hailing firms was judged to have led to a “substantial lessening of competition”. Grab in March acquired Uber’s Southeast Asian business, which saw the integration of Uber’s regional ride-sharing and food delivery business into ...
Grab defends position in Uber deal to Singapore's anti-monopoly watchdog
SINGAPORE (July 27): Grab said on Friday it disagreed with the Singaporean anti-monopoly watchdog’s assessment that its takeover of Uber’s operations had harmed competition and called the commission’s suggested measure of removing exclusivity arrangements with drivers as “one-sided”. Earlier this year, Uber Technologies sold its Southeast Asian business to bigger regional rival Grab ...
ComfortDelGro's exit from Uber tie-up comes as no surprise, says CGS-CIMB
SINGAPORE (May 28): CGS-CIMB Research is maintaining its “hold” call on ComfortDelGro with an unchanged target price of $2.37 after announcing it was parting ways with Lion City Rental (LCR), Uber’s wholly-owned car rental subsidiary, in Singapore.   This comes after ComfortDelGro last week said it would no longer be acquiring a 51% stake in Lion City Holdings, the operator of LCR, ...
ComfortDelGro revving up for disruption waves ahead
SINGAPORE (Apr 27): The future of taxis is an important issue for public transport operator ComfortDelGro.  While weaker numbers in the taxi segment have been a drag on the group’s  financial performance and shares over the past year, Yang Ban Seng, the group’s managing director and CEO, is taking steps to tackle the ride-hailing threat by embracing technology and expanding into ...