After $35 Billion Merger, Uber and Didi Are Set to Take Over the Ridesharing Universe
The $35 billion merger between Uber China and Didi will make the two companies masters of the rideshare universe–and maybe even profitable.
Originally written for Inc.com
Scan the top Uber headlines this week and you might be convinced the $35 billion Uber China-Didi Chuxing merger was a surrender. But don’t be fooled: Uber hasn’t given up - it has made out not just with riches but with dignity. After just two years, the independently operated Uber China has joined Didi to control 95% of the Chinese rideshare market.
Written off as a loss by Time and Fortune, five key reasons make the merger a major coup for Uber’s global ambitions. That’s not counting the latest $1 billion injection into Uber by Didi at its $68 billion valuation - now worth more than Ford and GM.
Uber China Finally Stops Burning Cash #
In the price-conscious Chinese market, both Uber and Didi were spending...
Continue reading →