Uber might be forced to re-consider challenging ASEAN market

Softbank is the leading financier in Uber's Asian competitors, involving Grab, Didi Chuxing and Ola


23 Nov, 2017

Uber might be forced to re-consider challenging ASEAN market | BEAMSTART News

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SoftBank's multi-billion dollar investment in Uber introduces the potential of integrating other ride-hailing equity the Japanese conglomerate has acquired in a consolidation of an increasingly growing industry across the Asian region.

Uber claimed that a scheduled offer with a consortium driven by SoftBank and Dragoneer Investment Group is already in progress. The consortium intends to invest $1 billion to $1.25 billion into Uber, and acquire 17% of existing shares in a supplementary transaction.

Related: Join Entrepreneurs and Investors at Entrepreneurs Retreat 2018

SoftBank has likewise has been a major financier in Uber's rivals across Asia, including Southeast Asia's Grab, China's DiDi Chuxing, and India's Ola, as it tries to accomplish founder Masayoshi Son's dream of a future steered by Artificial Intelligence, machine learning and interconnected devices.

However, ride-hailing service providers have been battling fiercely throughout Asia to lure in more drivers and riders, with price cuts and promos that have steered-down earnings.

Related: Uber concealed a security hack involving 57 million customers' data

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