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Apple invests S$1.37 billion in Chinese ride-sharing service

By Faiming_low on 14 May 2016

Attached Image According to Bloomberg, Apple has invested S$1.37 billion in Didi Chuxing, a Chinese ride-sharing service that is Uber's biggest rival in China. It is also Apple's first foray into the automotive industry.

Apple will be helping Didi Chuxing build up a platform to handle more than 11 million rides a day and 300 million users across China. The report also says that the tech giant is looking for ways to grow even further, with CEO Tim Cook preferring services with higher profit margins, as well as searching for ways to better infiltrate the Chinese market.

At the moment, Didi Chuxing holds more than 87 percent of the Chinese market and claims that Apple's investment is the largest it has received.


apple, chinese ride-sharing and 3 more...

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Faiming_low
Written by Faiming_low
Since young, Fai Ming has always centered his life around cars. In fact his first word was 'car' and not 'mum' or 'dad'. Aren't kids cute?



  • 1
Poper May 16 2016 02:45 AM

It's billion not million, dude.. what's the big deal if it's just millions for the most cash rich company in the world.

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Still2016 May 17 2016 12:22 PM

It seems not only apple but Temasek also have a hand in it.

 

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