Didi Chuxing News & Updates

Sushubh

Administrator
#1
Didi Chuxing is an investor in Ola. This could mean Ola and Uber could become sister companies in future.

Uber to Merge China Business With Didi to Create $35 Billion Company

Uber Technologies Inc. will sell its China business to Didi Chuxing, the dominant ride-hailing service in the country, according to people familiar with the matter. The deal ends a costly battle between the two companies, which competed for customers and drivers.
The valuation of the combined business will be $35 billion, said the people, who asked not to be named because the details aren’t public. Investors in Uber China, an entity owned by San Francisco-based Uber , Baidu Inc. and others, will receive a 20 percent stake in Didi, the people said. Uber will continue to operate its own app in China for now.
In addition to Uber selling its Chinese subsidiary, the complex deal involves Didi making a $1 billion investment in Uber, people familiar with the matter said. Didi had no immediate comment, and Uber declined to comment.
 

SVK

svknet.wordpress.com
Regulars
#2
In China, perhaps Uber was making loss, so they packup their operations. I don't think OLA and Uber can become sister companies unless either of them sell themselves to other in "India".
I think ownership patterns differ with different countries, just like Yahoo global is different from Yahoo Japan or Yahoo China.
 

amish

Star gazer
Regulars
#4
This is the BIG difference in India and China.

Indian companies can not take on Foreign companies.

Because Government policy is not supporting. All the tax rules and tax compliance is killing Indian businesses.

"Make in India" is unfortunately not "Made by India".

Its invitation for foreign companies to come and rule Indian market.

Whereas China promotes own products and puts on so much restrictions that foreign companies can not survive.

Baidu killed Google, Didi Chuxing killed Uber .