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August 1, 2016 11:09 pm GMT
No one wants to fight a land war in Asia, not even Uber. It could have burnt mountains of cash battling for market share with local ride app juggernaut Didi Chuxing, between marketing, discounts, and driver incentives. Instead, Uber surrendered. It’s sold its UberChina operation to Didi in exchange for a 20% stage in the merged company, while Didi has invested $1 billion into Uber at… Read More
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/uR1-Fn2MTWc/
Didi wins, Uber retreats, but Chinese riders and drivers lose
No one wants to fight a land war in Asia, not even Uber. It could have burnt mountains of cash battling for market share with local ride app juggernaut Didi Chuxing, between marketing, discounts, and driver incentives. Instead, Uber surrendered. It’s sold its UberChina operation to Didi in exchange for a 20% stage in the merged company, while Didi has invested $1 billion into Uber at… Read MoreOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/uR1-Fn2MTWc/
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