【Green Bones (2024)】

Source：Fresh Information Network Editor：Digital Culture Time：2025-06-26 08:48:34

Faced with massive losses in China,Green Bones (2024) Uber is finally ready to take a backseat in the massive market, where it's been soundly beaten by domestic ride-hailing service Didi Chuxing.

As reported by Bloombergand confirmed later by other news outlets, Uber will merge its China business with Didi, creating an entity worth a combined $35 billion.

SEE ALSO: Uber's enemies unite: its top American rival teams up with its biggest China rival

While this may herald the end of Uber's direct efforts in China, the Bloombergreport noted that Uber will get 20 percent of the new combined entity. This gives it a healthy stake in the rapidly growing Chinese ride-hailing market, so it isn't all a loss for the U.S. firm.

You May Also Like

This Tweet is currently unavailable. It might be loading or has been removed.

The deal also includes Didi making a $1 billion investment into Uber at a $68 billion valuation. In May, Didi Chuxing was valued at $28 billion.

Mashable Trend Report Decode what’s viral, what’s next, and what it all means. Sign up for Mashable’s weekly Trend Report newsletter. By clicking Sign Me Up, you confirm you are 16+ and agree to our Terms of Use and Privacy Policy. Thanks for signing up!

While it doesn't appear to exist on Uber CEO Travis Kalanick's social accounts, this alleged blog post started circulating on WeChat on Sunday:

Original image has been replaced. Credit: Mashable

The news has immediately led to speculation that Uber was now more likely to go public, since its money-losing efforts in China would no longer drag on its business.

This Tweet is currently unavailable. It might be loading or has been removed.

Uber has tried for the past two years to gain a foothold in China, where it's been burning through $1 billion a year trying to compete with Didi.

Didi itself is a merger from two powerhouse ride apps, Didi Dache and Kuaidi Dache, and has a killer 87 percent market share of private cars, and 99 percent of taxis. It also operates in over 400 Chinese cities, while Uber has struggled to expand beyond 60.

Original image has been replaced. Credit: Mashable

This news comes days after the Chinese government legalised ride-hailing in the country, giving legitimacy to apps like Didi and paving the way for more investor confidence.

Previous：This is the fattest of the extremely fat bears

Next：NYT Connections hints and answers for May 2: Tips to solve 'Connections' #691.

【Green Bones (2024)】

Related Articles

Related Recommendations

Categories

Latest Articles

Popular Articles

Hot Recommendations

Featured Column

Quick Links

Quick Links