Uber Confirms Dara Khosrowshahi as CEO

Expedia’s former CEO will meet with Uber employees Wednesday

Uber is facing severe competition in many areas.

Grab, the ride sharing company that’s challenging Uber Technologies in Asia, secured its second major investment in as many months Wednesday after the world’s biggest carmaker said it would take a stake in the Singapore-based group.

Toyota Motor Corp. (TM) investment arm, Toyota Tsusho Crop., said it has taken an undisclosed stake in Grab through its Next Technology Fund, a $55 billion division is established earlier this year to identify next-generation automobile-related businesses opportunities. The Toyota investment follows a $2 billion investment from Japan’s SoftBank (SFTBY) and China’s Didi Chuxing in July that valued GrabTaxi Holdings Pte Ltd. at just over $6 billion.

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