This withdrawal was not due to his own will but they sold all the business to Grab, a company that does the same as Uber and was founded a few years ago in Malaysia (today they are based in Singapore).
The sale includes UberEats and according to Bloomberg, with the Uber movement it controls 27.5 of Grab’s shares.
In total, it is a market of 620 million people who will now have only Grab as their private driver / taxi provider. And among the countries that Uber “abandons” include Malaysia, Thailand, Singapore, Vietnam and Cambodia.
Beyond the loss of those markets, the positive point for Uber is that they earn a little money in shares – that is, according to CNN , there is no cash involved – which would potentially serve to cut their losses because last year they lost 4,500 millions of dollars and can no longer continue at that rate.
But it can not be ignored that the presence of Uber in Asia is decreasing. They had already withdrawn from China a while ago and before they did from Russia, although from the positive point of view, the CEO of Uber indicated on the official site that this reduction in the Asian market will allow them to focus on their strongest markets.
The truth is that just weeks after one of their autonomous cars killed a pedestrian in Arizona, United States . The question now seems to be how long Uber will endure as we know it until now, because he has had problems of all kinds almost everywhere: with taxi drivers and with the authorities.