Then came the bombshell: Uber’s abrupt 2018 exit from Southeast Asia, chased out by a victorious Grab.
Grab and Gojek are ubiquitous on the streets of Southeast Asia: The former chased out Uber Technologies in a bruising market share battle in 2018.
Smove is one of a mounting pile of injured, cash-bleeding young companies in Southeast Asia.
In this more sober environment, the attractions of Southeast Asia as a growth play have stuttered.
© ReutersVarious startup funding rounds have closed in the past few months, albeit including some in train from earlier this year.