Uber Moves on in China, Co-Invests with Didi Chuxing
Uber China will have a 20% stake as the leading shareholder in Didi Chuxing and Didi plans to invest US$1 billion in Uber. The Uber CEO will join Didi’s board, and Didi’s founder will also take a seat on Uber’s board. The Didi deal ends their fierce competition and Uber’s estimated US$1 billion per year losses in China.
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