We have a report on March 12 re: Uber leaving the SEA market, and today, the deal was done.
So what happened was Uber has sold all its operations to Grab, and then Uber in return will take a stake in Grab.
We’ve got the official statement of Grab re: this deal.
Grab’s Official Statement
To our friends from the media,
Over the past years, Grab and Uber have committed to delivering safer, more convenient and affordable transportation services for Filipinos through technology and innovation. As a result, the TNVS sector in the Philippines has grown to be a major driver of the transportation industry.
Today we announce an important milestone in the ridesharing industry — Grab has acquired Uber’s business in the Philippines and in Southeast Asia. Two of the biggest TNCs in the Philippines have come together to serve Filipinos better.
A lot of you might be wondering what this means for both our passengers and driver-partners. The combined services of Grab and Uber signals a wider network of TNVS drivers and passengers and improved ridesharing services.
For our passengers:
- With a larger fleet of drivers on our platform, passenger transportation needs will be met faster. Passengers will get to enjoy shorter waiting times, more convenient and affordable rides through one platform.
- Passengers can use GrabRewards, an in-app loyalty program that allows them to get more value with every ride. They instantly earn points that they can use to redeem offers such as vouchers for mobile load, food, shopping discounts and more. GrabRewards can also be used to redeem points for discounts off your next ride.
- Users can also take advantage of GrabPay, a mobile wallet that’s easy to top-up and can be used for cashless transactions. Passengers can also transfer credits easily to friends and loved ones.
- New Grab users can enjoy GrabExpress to get parcels delivered on-demand, with real-time tracking.
For our driver-partners:
- More passengers are expected to use Grab, which will mean more jobs, less waiting time, and ultimately higher earning potential.
- Driver-partners will get access to Grab’s driver support services, incentives and offers, and additional services to protect and enhance their welfare — from personal accident insurance to micro-financing.
I would like to reassure the government and the p ublic that we continue to work in a collaborative and open manner, as we have done in the past. We will retain our commitment towards quality of service and continue to adhere to regulatory guidelines on activations and pricing.
Most importantly, we are very excited to welcome Uber drivers to our Grab family. They have our full support and resources in this time of transition.
Our partnership with Uber will fuel our drive and passion for a better transport future even more. We will continue to work and collaborate with the Department of Transportation (DOTr), Land Transportation Franchising and Regulatory Board (LTFRB), local government units and other stakeholders to constantly find ways to improve our services.
We extend our sincerest thanks to our passengers, drivers and partners for being the force that keeps us moving forward. We owe today’s milestone to everyone who has believed and trusted in Grab.
We have so many more exciting things in store for you, and I truly look forward to introducing them to you soon!
Country Head, Grab Philippines
Welcome Uber to Grab family
And Grab is fast in welcoming Uber to the family. You’ll get this announcement pushed into the Grab’s app.