Grab announced on Monday that it has officially acquired rival Uber’s Southeast Asia operations, including all ride-hailing services in Cambodia, just three months after the Singapore-based ride-hailing company launched in the Kingdom.
US-based Uber will take a 27.5 percent stake in Grab and Uber CEO Dara Khosrowshahi will join Grab's Board of Directors as part of the acquisition.
Founded in Malaysia in 2012, Grab now operates in eight Southeast Asian countries. It launched services in Phnom Penh in December, three months after Uber became the first international ride-hailing platform to begin operations in Cambodia.
Since Grab's launch, it has signed memorandums of understanding (MoUs) with the Ministry of Public Works and Transport in December, the Anti-Corruption Unit in January and the United Nations Development Programme in February.
