Uber Looks To Shutdown Uber Eats In Hong Kong After India In Quest Of Numero Uno Position

Uber Technologies Inc UBER looks to discontinue its food-delivery services in Hong Kong on December 31 as it aims to focus on its ride-hailing business.
Launched in 2016, Uber Eats competed with popular services operated by Deliveroo PLC DROOF and Delivery Hero SE's Foodpanda, Bloomberg reports.
Uber, which counts Hong Kong as its most significant Uber Taxi business globally, said it would keep growing its other services. Uber had acquired local taxi-hailing app HKTaxi in August.
In 2020, Uber sold the Indian operations of Uber Eats to Alibaba Group Holding Ltd BABA-backed Zomato.
"We really wanted to focus on delivery business in markets where we could be the leader, we could get to a number one position." CEO Dara Khosrowshahi said.
Price Action: UBER shares traded lower by 4.42% at $37.95 in the market session on the last check Tuesday.