rss
08-01-2016, 09:03 AM
Uber gets ready to take the backseat to competitors in China
http://i.amz.mshcdn.com/hpPA0mTD9zOf5KHbiqquJEsb8gE=/575x323/https%3A%2F%2Fblueprint-api-production.s3.amazonaws.com%2Fuploads%2Fcard%2Fima ge%2F162281%2FAP_894539178683.jpghttp://a.amz.mshcdn.com/assets/feed-tw-f7c0a094d16b7ee7c91a1e50839a8e00.jpg (http://twitter.com/share?via=Mashable&text=Uber+gets+ready+to+take+the+backseat+to+compe titors+in+China&url=http%3A%2F%2Fmashable.com%2F2016%2F08%2F01%2Fu ber-didi-merge%2F%3Futm_campaign%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_cid%3DMash-Prod-RSS-Feedburner-All-Partial)http://a.amz.mshcdn.com/assets/feed-fb-c0a21e8841794479b8086c32c6f24ba1.jpg (http://www.facebook.com/sharer.php?u=http%3A%2F%2Fmashable.com%2F2016%2F08 %2F01%2Fuber-didi-merge%2F%3Futm_campaign%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_cid%3DMash-Prod-RSS-Feedburner-All-Partial&src=sp)
Faced with massive losses in China, Uber is finally ready to call it quits in the massive market, where it's been soundly beaten by domestic ride-hailing service Didi Chuxing.
As reported by Bloomberg and confirmed later by other news outlets, Uber will merge its China business with Didi (http://www.bloomberg.com/news/articles/2016-08-01/uber-said-to-merge-china-business-with-didi-in-35-billion-deal), creating an entity worth a combined $35 billion.
SEE ALSO: Uber's enemies unite: its top American rival teams up with its biggest China rival (http://mashable.com/2015/09/16/lyft-didi-kuaidi/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
While this may herald the end of Uber's direct efforts in China, the Bloomberg report **ted that Uber will get 20 percent of the new combined entity, giving it a healthy stake in the rapidly growing Chinese ride-hailing market. Read more... (http://mashable.com/2016/08/01/uber-didi-merge/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
More about Didi Chuxing (http://mashable.com/category/didi-chuxing/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Ride Hailing Apps (http://mashable.com/category/ride-hailing-apps/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Uber (http://mashable.com/category/uber/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), China (http://mashable.com/category/china/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and World (http://mashable.com/world/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://feeds.feedburner.com/~r/Mashable/~4/k9tc9MNd7ZU
http://i.amz.mshcdn.com/hpPA0mTD9zOf5KHbiqquJEsb8gE=/575x323/https%3A%2F%2Fblueprint-api-production.s3.amazonaws.com%2Fuploads%2Fcard%2Fima ge%2F162281%2FAP_894539178683.jpghttp://a.amz.mshcdn.com/assets/feed-tw-f7c0a094d16b7ee7c91a1e50839a8e00.jpg (http://twitter.com/share?via=Mashable&text=Uber+gets+ready+to+take+the+backseat+to+compe titors+in+China&url=http%3A%2F%2Fmashable.com%2F2016%2F08%2F01%2Fu ber-didi-merge%2F%3Futm_campaign%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_cid%3DMash-Prod-RSS-Feedburner-All-Partial)http://a.amz.mshcdn.com/assets/feed-fb-c0a21e8841794479b8086c32c6f24ba1.jpg (http://www.facebook.com/sharer.php?u=http%3A%2F%2Fmashable.com%2F2016%2F08 %2F01%2Fuber-didi-merge%2F%3Futm_campaign%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_cid%3DMash-Prod-RSS-Feedburner-All-Partial&src=sp)
Faced with massive losses in China, Uber is finally ready to call it quits in the massive market, where it's been soundly beaten by domestic ride-hailing service Didi Chuxing.
As reported by Bloomberg and confirmed later by other news outlets, Uber will merge its China business with Didi (http://www.bloomberg.com/news/articles/2016-08-01/uber-said-to-merge-china-business-with-didi-in-35-billion-deal), creating an entity worth a combined $35 billion.
SEE ALSO: Uber's enemies unite: its top American rival teams up with its biggest China rival (http://mashable.com/2015/09/16/lyft-didi-kuaidi/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
While this may herald the end of Uber's direct efforts in China, the Bloomberg report **ted that Uber will get 20 percent of the new combined entity, giving it a healthy stake in the rapidly growing Chinese ride-hailing market. Read more... (http://mashable.com/2016/08/01/uber-didi-merge/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
More about Didi Chuxing (http://mashable.com/category/didi-chuxing/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Ride Hailing Apps (http://mashable.com/category/ride-hailing-apps/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Uber (http://mashable.com/category/uber/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), China (http://mashable.com/category/china/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and World (http://mashable.com/world/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://feeds.feedburner.com/~r/Mashable/~4/k9tc9MNd7ZU