Uber sells loss making Chinese business to Didi Chuxing and exits China market

As we learned this past Monday, Uber has decided to sell its China operations to China’s largest rideshare company, Didi Chuxing. Didi Chuxing, which is part owned and backed by AliBaba and Tencent and recently received a $1 billion USD investment from Apple had been engaged in a fierce turf war with Uber in China and seems to have won that battle. Continue reading “Uber sells loss making Chinese business to Didi Chuxing and exits China market”