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Asia

Kalanick’s resignation a potential blow to Uber’s Asia ambitions, report says

Travis Kalanick’s resignation as Uber’s chief executive is a potential blow to the company’s operations in Asia, a region where it faces stiff competition from local ride-hailing players, the Wall Street Journal reported.

Investors and analysts interviewed by the Journal said Uber is losing the race in Asia. The company retreated from China last year after selling its business to homegrown Didi Chuxing, and is battling fierce competitors Ola and Grab in India and Southeast Asia, respectively.

An Uber spokesman declined to say whether its strategy in Asia may change following Kalanick’s departure, the WSJ said.

Read the full Wall Street Journal report here.

Source: cnbc china
Kalanick’s resignation a potential blow to Uber’s Asia ambitions, report says

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