• STARTUPS
    Uber can’t afford to lose in India after Didi merger in China

    If Uber does make India its top priority, it may affect Ola’s ongoing fundraising efforts. Photo: Hemant Mishra/Mint Bengaluru: After the merger of Uber’s China unit with Didi Chuxing, the largest ride-hailing service in China, India may become for Uber what it is for another American tech giant, Amazon: a market it cannot afford to […]

  • STARTUPS
    Uber sells China ops to Didi, frees itself to expand in other markets

    The new entity combines Didi’s most recent valuation of $28 billion and Uber China’s $7 billion valuation for the $35 billion market capitalisation. Photo: Reuters Bengaluru: Uber Technologies Inc. is selling its China operations to fierce rival Didi Chuxing, ending an expensive price war and freeing it up to focus on other markets and possibly […]

  • STARTUPS
    China Regulator Says Didi, Uber Deal Will Need Mofcom Approval

    A merger between Chinese ride-hailing firm Didi Chuxing and the China unit of US rival Uber could face its first hiccup after China’s commerce ministry (Mofcom) said on Tuesday it had not received a necessary application to allow the deal to go ahead. Didi’s acquisition of Uber’s China operations, announced on Monday, will create a […]

  • NEWS
    Uber to Merge China Operations With Rival Didi Chuxing: Report

    Ride-sharing giant Uber is to merge its China operations with local rival Didi Chuxing, reports said Monday, ending a ferocious battle for market share in the world’s second-largest economy. The deal will give Uber a 20 percent share in the combined firm, Bloomberg News reported, adding it will be valued at $35 billion (roughly Rs. […]

  • STARTUPS
    What Uber’s bid for peace with Didi Chuxing means for Ola

    Ola raised some $500 million from Didi, SoftBank and others last November. Photo: Bengaluru: A potential truce between ride-hailing services Uber Technologies Inc. and Didi Chuxing in China could have ramifications for the ongoing battle between Uber and Ola, the market leader in India. Investors in Uber are encouraging the company to sign some kind […]

  • STARTUPS
    Uber backers push for Didi Chuxing deal in China

    Uber and Didi Chuxing are bleeding cash in China as they fight for dominance in the world’s most populous country. Photo: Reuters New York/San Francisco/Hong Kong: Uber Technologies Inc.’s investors have a message for the management: It’s time to wrap up the costly fight in China. Several institutional investors are pushing the ride-hailing company to […]

  • SUCCESS
    Ola seen gaining from Apple’s $1 bn Didi funding

    while the worldwide alliance hasn’t translated into any meaningful change in business for any of the fouragencies, the sheer amount of funds raised with the aid of Didi during the last 18 months (greater than $4 billion) gives the business enterprise giant firepower to fund peers such as Ola. picture: Hemant Mishra/Mint Bengaluru: The $1 […]

  • LIFE
    Uber rival Didi Kuaidi said to raise funding goal to over $1.5 billion

    Uber’s largest competitor will be valued at more than $20 billion in the round, which will close soon and is multiple times over-subscribed. Photo: Reuters Hong Kong: Didi Kuaidi raised the target on its latest round of funding to more than $1.5 billion, according to a person familiar with the matter, as China’s largest ride-hailing […]