Monday, August 1, 2016

Uber China Sold To Didi Chuxing

In an abrupt end to Uber's battle for a place in China's market, UberChina, Uber's arm in China, says it has sold itself to Chinese competitor Dixi Chuxing. Didi will invest $1 billion in Uber as part of the deal, which will give Uber a 20% stake in Didi. The deal reportly values UberChina at around $8 billion.