Apple recently invested $1 billion in Chinese transportation company Didi Chuxing. Here are some key details about the company.
This app is crushing in China
Data, money, politics.
Didi Chuxing may be five times the size of Uber in China.
In its biggest acquisition since Beats, Apple picks up Uber rival in China, Didi Chuxing.
Data, money, politics.
The big news out of the tech world is that Apple has invested $1 billion in Didi Chunxing, the no. 1 ride-hailing player in China. The investment is a significant one, particularly for Apple, whose fortunes in the Middle Kingdom have recently taken a turn for the worse. Aligning itself with Didi—and, by extension, Beijing—could help Apple regain its footing....
Apple Inc. has invested $1 billion in Chinese ride-hailing service Didi Chuxing, the main competitor in China for Uber.
Apple boss Tim Cook just ran over Uber CEO Travis Kalanick in his race to keep Beijing happy. Apple unveiled a $1 billion investment in Didi, Uber’s biggest ride-hailing rival in China. Uber and Didi are locked in a heated battle in the communist country, spending heavily to subsidize rides and grab market share. Cook is making a big show of supporting a homegrown Chinese company with Beijing breathing down his neck. Regulators recently shut down Apple’s iBooks and iTunes movie stores in the country in what was widely viewed as a warning to Apple to stay on their good side. In addition, Apple’s support for Didi strengthens its ties to China’s consumer market, where its iPhone business has been slowing along with the broader economy. “Didi exemplifies the innovation taking place in the iOS developer community in China,” Cook said in a statement. “We are extremely impressed by the business they’ve built and their excellent
The news last night that Apple had invested $1 billion in Didi Chuxing, China’s largest ride-hailing company, is giving Uber CEO Travis Kalanick both professional and domestic headaches. Hours...
economy - Apple has made a big investment in dominant Chinese ride-hailing service Didi Chuxing, dealing a major blow to Uber.
Apple Inc.’s bet on Didi Chuxing Technology Co. pumps $1 billion into a company already supercharged with cash at a time when the rideshare market is maturing and competition requires less of it.
The iPhone maker is a strong contender in the Chinese market, but has hit some road blocks recently.
Apple has invested US$1bil (RM4.04bil) in Chinese ride hailing app Didi Chuxing, the Beijing company said as it vies with bitter US-based rival Uber for market share in China.
Apple has pumped one billion US dollars (£693 million) into Chinese ride-hailing app Didi Chuxing, the main rival of Uber in the country.