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Uber Eats to quit Hong Kong market after five years

News Snapshot:

Online food delivery platform Uber Eats yesterday announced that it would quit Hong Kong at the end of the year, ending five years of battling for a share of the territory’s food delivery market. Uber announced the “difficult decision” in an online statement, which gave no reason for why it was winding down operations. The firm said it would redouble its commitment to its ride-sharing unit in Hong Kong, a business that remains in a legal gray area. Launched in 2016, Uber Eats was a latecomer to Hong Kong’s food delivery sector, where Foodpanda and Deliveroo had a head start…

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