Uber is giving up on the fight for ride-hailing customers in Southeast Asia. Related" Uber's Southeast Asia rival Grab gets $2 billion strongerKhosrowshahi took over as CEO in August, replacing Travis Kalanick who was forced out by major Uber shareholders after a series of crises. Uber has been trying to compete with Grab in eight fast-growing markets across Southeast Asia, including Singapore, Indonesia and Thailand. And Japanese tech company SoftBank (SFTBF) agreed to buy a 15% stake in Uber at the end of last year. But Khosrowshahi indicated that Uber does not have plans to quit India or other major markets anytime soon.

Source: CNN March 26, 2018 02:24 UTC