The best example is perhaps what happened with Uber in South East Asia. Grab and Uber went head-to-head in many parts of the region until Grab acquired Uber’s South East Asian operations in the largest-ever deal at the time
SINGAPORE: Mr Anthony Tan, the co-founder and CEO of multi-hyphenate company Grab, admitted in an interview earlier this year that he was born into privilege. However, when it comes to oneupmanship with his rivals, he says he can brawl with the best of them.
Uber received no cash from the transaction, getting a 27.5 per cent stake in Grab, and its CEO, Mr Dara Khosrowshahi, joined Grab’s Board of Directors instead. “I remember when we were competing against Uber—and Dara [Khosrowshahi, Uber CEO] is my boy, I have mad respect—he said, ‘What differentiates you from us?’ at an Uber town hall in San Francisco. You know, we fought for many years, we bought them. I said, ‘when you guys launched, Uber Ice Cream—so cool. But imagine here [in the heat] with ice cream in a car. You put ice cream in a car, it arrives within seven minutes. You are going to have many flavors in the trunk of the car.
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