Saturday, 14 May 2016

Apple invests $1bn in Uber's largest Chinese competitor

Friday the 13th is traditionally seen as a day with a bad omen. Hopefully, that may not be the case for Uber, as they received news that might just be any businesses' nightmare yesterday. Their biggest rival in China, Didi Chuxing (formerly Didi Kuaidi) got a massive investment from Apple of $1 billion Dollars. This funding and strategic partnership with Apple could be a game changer for Didi Chuxing, the largest taxi-booking and ride-sharing service app in China Uber as its biggest rival.

                                           Pic: courtesy Reuters/Jason Lee

Uber's CEO, Travisk Kalanick, apparently seems to be taking this latest strategic move in 'ride-sharing wars' with a sense of humor and joked about this in his tweet yesterday.

 "travis kalanick (@travisk) tweeted at 8:10 AM on Fri, May 13, 2016:
girlfriend owns @apple shares which makes her a didi investor... #Smh #ridesharewars #domesticissues #thanksALotTim
(https://twitter.com/travisk/status/731018873168764929?s=09)"


Car manufacturers and people in technology are increasingly forging new partnerships and this will be increasingly beneficial for Apple which is looking to strengthen its hold in the Chinese market after spotlight from regulators, as well as Didi Chuxing.

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