Apple invests $1billion in Chinese private transport service Didi Chuxing, in an attempt to better understand their second largest market ..
The US company intends to revitalize its business in China, its second largest market. Apple is in constant persecution by regulators Asian country with its online book store and films recently closed.
The investment provides much of the Uber main rival in China. Tim Cook, Apple’s CEO, sees clear opportunities for cooperation with Didi ChuXing in the future, although the short-term purpose is the understanding of a huge market, very important for the company and very complicated.
“We invest for several strategic reasons, including the opportunity to learn more about certain market segments in China,” says the manager. “Of course, we also believe that we will have a great return on our invested capital in the future.”
Didi ChuXing receives investment from Apple, Alibaba and Tencent. While Baidu and Google invest in Uber
Didi ChuXing has already managed to raise several billion dollars and dominates by a wide margin, the market for private transport in China: more than 11 million journeys a day and 87% market share. Didi fusion Dache and kuaidi Dache, is the largest private taxi company by number of daily rides