Uber to Sell China Business to Rival Didi After Losing Billions

Re:Uber to Sell China Business to Rival Didi After Losing Bi... by erikpukinskis on Monday August 01, 2016 @02:58AM (#12200644)

> “Uber and Didi Chuxing are investing billions of dollars in China and both companies have yet to turn a profit there. Getting to profitability is the only way to build a sustainable business that can best serve Chinese riders, drivers and cities over the long term.”

Hm. This makes me wonder if their strategy for doing that is price fixing. The merger lets them do that legally.

Are there any other serious players in the market in China?

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Re:Uber to Sell China Business to Rival Didi After Losing Bi... by thesimpsons1022 on Monday August 01, 2016 @03:51AM (#12200793)

as said earlier in this thread:

>Jean Liu, the president of Didi, is the daughter of Chinese businessman and Lenovo founder Liu Chuanzhi, and the granddaughter of Liu Gushu, a senior executive banker at the Bank of China.

this deal a long with the entrenched interests almost assure a government sanctioned monopoly.

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Re:Uber to Sell China Business to Rival Didi After Losing Bi... by Eutow on Monday August 01, 2016 @08:44AM (#12201893)

>The deal with Didi Chuxing comes just days after China agreed to provide a legal framework for taxi-ordering apps. Both Uber and Didi have welcomed the decision, having previously operated in a legal grey area in the country. While the apps are widely popular, they have undermined business for normal taxis and have been met with protests by cab drivers. The new rules will take effect on 1 November and will, among other things, forbid such platforms to operate below cost.

http://www.bbc.com/news/36938812

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Re:Uber to Sell China Business to Rival Didi After Losing Bi... by chw9e on Monday August 01, 2016 @10:55AM (#12202818)

Perfect excuse for Didi to raise prices after gaining monopoly share of the market...

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