Reuters sources have said that Apple’s billion dollar investment in Chinese ride-sharing company Didi Chuxing was one of the key factors that led to Uber ceasing independent operation in the country. It was announced earlier this week that Didi had acquired UberChina in return for a 20% shareholding.
Apple invested $1B in Didi back in May, the same month that the company began actively seeking to acquire UberChina. Together with investments with Chinese tech companies Alibaba and Tencent, it was this which led Uber to conclude that it was being out-spent and would ultimately lose the expensive battle for market domination …
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