“The investment will most likely not be welcome news for Uber which has been struggling in China,” Kharpal reports. “In February, the ride hailing app said it’s losing over $1 billion a year in the world’s second-largest economy. Didi claims to have an 87 percent market share and is backed by some of China’s biggest internet giants including Alibaba and Tencent.”
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MacDailyNews Take: Funny.
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