• Uber and Grab hit with $9.5M in fines over ‘anti-competitive' merger

    22 days ago - By Tech Crunch

    Uber and Grab have been hit with combined fines of $9.5 million after their merger deal was found to have violated Singapore's anti-competition laws.
    Grab acquired Uber's Southeast Asia business in March, but the Competition Commission of Singapore today declared the deal is “anti-competitive” following a months-long investigation into its impact on Singapore.
    The CCCS levied an SG$6,582,055 fine on Uber and an SG$6,419,647 fine on Grab, but it won't unwind the deal, which had been an option. The fines relate only to the businesses in Singapore, which is just one of eight markets where...
    Read more ...

     

  • Ride-hailing startup Shohoz raises $15M to build the Grab of Bangladesh

    Ride-hailing startup Shohoz raises $15M to build the Grab of Bangladesh

    22 days ago - By Tech Crunch

    Uber may be global but it is very much the alternative in some parts of the world. One such place is Bangladesh - the South Asian country that's home to 160 million people - where local rival Pathao is backed by Go-Jek and recently raised $10 million. Now Pathao's closest rival, Shohoz , has also pulled in investment after it closed a $15 million funding round.
    Shohoz - which means ‘easy' in Bengali - started in 2014 offering online bus ticket sales before expanding into other tickets like ferries. The startup moved into on-demand services in January when it added motorbikes and then it...
    Read more ...

     

  • Singapore competition watchdog fines Grab, Uber $9.5 million over merger

    22 days ago - By Reuters

    Singapore's anti-trust watchdog fined ride-hailing firms Grab and Uber a combined S$13 million over their merger deal, and ordered Uber to sell vehicles from its local leasing business to any rival that makes a reasonable offer.
    Read more ...

     

  • Singapore competition watchdog fines Grab, Uber $9.5 million

    22 days ago - By Reuters

    Singapore's competition watchdog fined ride-hailing firms Grab and Uber Technologies a total S$13 million and announced other measures to address competition concerns arising from the two companies' merger in the city-state.
    Read more ...