Didi Chuxing poised to acquire Uber China – MacGeneration

Didi Chuxing poised to acquire Uber China

Stéphane Moussie | 1 August 2016 | 10:31 | 2

Didi Chuxing, the Chinese transport service where Apple has invested $ 1 billion in the spring, will swallow his Uber competitor, reported Bloomberg and Wall Street Journal , among others. The market leader would be valued at $ 35 billion after the merger made.

Didi Chuxing offers a range of services: taxi, bikes, carpooling …

Uber China holds 20% of the company resulting from the merger, while Didi Chuxing would invest $ 1 billion in Uber, an amount that should be used to develop the activity of the latter outside of China.

this next merger comes as both companies are not profitable despite large investments. The US VTC service would have engulfed more than 2 billion in the Middle Kingdom.

Apple surprise investment in Didi Chuxing was presented by Tim Cook as “a chance to learn about some sectors of the Chinese market “. And the automotive market, one might add, so Apple would explore various avenues for its car project.

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