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Grab and the importance of managing Uber investor expectations
Uber’s recent sell-off suggests it can learn from South-east Asia’s tech unicorn.
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In contrast to Uber’s selloff, investors sent Grab’s share price shooting up by 4.7 per cent, after seeing a number of bright spots.
PHOTO: ST FILE
Li Jianggan
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Investors were spooked by Uber’s first-quarter earnings announced in May.
With a net loss of US$654 million (S$883 million), Uber CEO Dara Khosrowshahi quickly clarified this had “nothing to do with the operating business”. Instead, he attributed it to a US$721 million write-down of equity stakes in firms like Chinese ride-hailing giant Didi.
