Kenapa Uber Tutup di Indonesia?

Summary

This video explores Uber's journey in Southeast Asia, focusing on its initial dominance in the U.S. and struggles to adapt to local markets. Despite being a pioneer, Uber faced tough competition from regional players like Grab and Gojek. In 2018, Uber merged with Grab, marking its exit from Southeast Asia. The video also delves into Softbank's strategic investments, playing a crucial role in shaping the competition. Softbank's strategy of mergers and acquisitions helped consolidate the market, enabling them to profit even as Uber struggled financially. The video concludes by questioning Softbank's future moves with its investments in GoTo.

Takeaways

• 😀 Uber initially dominated the U.S. ride-hailing market and expanded internationally, including to Southeast Asia in 2013.
• 😀 Despite being the pioneer, Uber faced strong competition in Southeast Asia from local players like Grab and Gojek.
• 😀 Uber struggled to adapt to the Southeast Asian market, where cash payments and motorbike taxis were more common.
• 😀 Grab, a local Southeast Asian competitor, gained an advantage by offering cash payment options, which Uber did not initially provide.
• 😀 In 2018, Uber exited Southeast Asia by merging with Grab, which resulted in Uber owning a 27.5% stake in Grab.
• 😀 SoftBank, a Japanese investment firm, played a crucial role by investing in both Uber and Grab, facilitating the merger.
• 😀 SoftBank's strategy focused on consolidating ride-hailing competitors and prioritizing one dominant player per market, such as Grab in Southeast Asia.
• 😀 Prior to the Grab merger, Uber had already merged with competitors in other regions, including Didi in China and Yandex in Russia.
• 😀 SoftBank’s investments and exit strategies helped it profit despite Uber's financial losses, with SoftBank making billions from selling Uber shares.
• 😀 SoftBank's strategy of mergers and acquisitions across global ride-hailing markets, including investments in Gojek and Tokopedia, shows a continued push for market consolidation.
• 😀 Uber’s ongoing financial struggles were highlighted by their 2019 losses of $4.5 billion, even as they recorded $7.5 billion in revenue.

Q & A

Why did Uber struggle in Southeast Asia despite being the pioneer in the online transportation business?

Uber struggled in Southeast Asia due to several factors, including entering the market late, failing to adapt to local preferences (like cash payments), and focusing on traditional taxi services rather than more suitable options like motorcycle taxis. Additionally, local competitors like Grab had already established a strong presence in the region.

How did Grab manage to outcompete Uber in Southeast Asia?

Grab managed to outcompete Uber by understanding local cultural and economic preferences, such as offering cash payments (which were more popular in Southeast Asia) and providing motorcycle taxis (ojek) as a faster option in congested cities. Grab also paid drivers immediately after a ride, unlike Uber's weekly payout system.

What role did SoftBank play in the merger between Uber and Grab?

SoftBank played a critical role by investing heavily in both Uber and Grab. The company used its investments to consolidate the market and reduce competition. In 2018, SoftBank facilitated the merger between Uber and Grab by prioritizing Grab's dominance in Southeast Asia, leading Uber to exit the region.

What was the outcome of the Uber-Grab merger in 2018?

As a result of the merger, Uber ceased operations in Southeast Asia and transferred its customers to Grab. In exchange, Uber received a 27.5% stake in Grab. This allowed Uber to exit the highly competitive Southeast Asian market and refocus on other regions.

Why did SoftBank invest so heavily in the ride-hailing industry?

SoftBank's strategy was to dominate the global ride-hailing industry by investing in key players like Uber, Grab, Gojek, and others. The firm aimed to consolidate competition and maximize profitability through mergers and acquisitions, ensuring the most dominant players in each market.

What is SoftBank's exit strategy from its investments in the ride-hailing industry?

SoftBank's exit strategy involved merging competing companies to create market leaders and then selling its stakes for a profit. This was evident when SoftBank sold its stake in Uber in 2022, making a profit of $5.6 billion despite Uber’s financial losses.

How did Uber's financial performance impact SoftBank's investment strategy?

Uber’s financial struggles, including ongoing losses, were part of SoftBank's larger investment strategy. SoftBank was able to turn Uber’s challenges into profit by consolidating the ride-hailing market through mergers, and ultimately selling its shares at a substantial profit.

What are some examples of previous mergers and acquisitions involving Uber that were influenced by SoftBank?

Prior to the Uber-Grab merger, SoftBank had influenced other mergers, such as Uber's 2016 merger with Didi Chuxing in China, Uber's 2017 merger with Yandex in Russia, and Uber's 2020 acquisitions of Zomato and Kareem in the Middle East.

How did Uber’s payment system in Southeast Asia differ from Grab's, and why was this a disadvantage for Uber?

Uber initially only accepted credit card payments in Southeast Asia, which was less suitable for the region where many customers preferred to pay with cash. In contrast, Grab offered cash payment options from the start, which aligned better with local preferences and helped it gain market dominance.

What was the result of SoftBank’s sale of its Uber shares in 2022?

SoftBank sold its entire stake in Uber in 2022, making a profit of $5.6 billion by selling shares at $41.47 each. This was a successful exit strategy for SoftBank, especially considering Uber was still experiencing significant financial losses at the time.