"Uber's acquisition of Fly Taxi locks in its consolidated position in Hong Kong's taxi-hailing market just before the new ride-hailing licensing regime is implemented."
"Fly Taxi, the metered-taxi booking app, became the de facto alternative to Uber after the latter's acquisition of HKTaxi, which was fully integrated and shut down."
"The Road Traffic Amendment Bill established the first formal licensing framework for ride-hailing platforms in Hong Kong, requiring operators to obtain licenses and drivers to have permits."
Uber has acquired Fly Taxi, the main remaining alternative taxi-hailing app in Hong Kong, ahead of new ride-hailing licenses expected in five months. This acquisition solidifies Uber's market position before competitors like Didi, Tada, and Amap can enter. Fly Taxi became popular after Uber's previous acquisition of HKTaxi, which was integrated into Uber and shut down. The deal aligns with Hong Kong's new regulatory framework requiring licenses for ride-hailing platforms and permits for drivers and vehicles.
Read at TNW | Business
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