Apple has decided to invest 1 billion dollars in the Chinese taxi startup, Didi Chuxing. This is by far the largest investment of funds that Didi Chuxing has received to date, as well as one of the largest investments Apple has ever made. Remember Beats? Apple shelled out 3 billion to them. But that is besides the point. Why is Apple so intrigued by Didi Chuxing?
“Didi exemplifies the innovation taking place in the iOS developer community in China,” CEO Tim Cook said. “We are extremely impressed by the business they’ve built and their excellent leadership team, and we look forward to supporting them as they grow.”
Didi Chuxing began as Didi Dache back in 2012. Last year they merged with Kuaidi, their rival service, and became Didi Chuxing. Didi Chuxing is available in 400 Chinese cities and offers services similar to Uber and Lyft, with taxi, private car, and ride-sharing. Impressively, Didi Chuxing facilitates more than 11 million rides per day! Bringing in a whooping 1.43 billion in 2015. It has been recently reported that Uber is losing 1 Billion a year in China due to competition from Didi.
Most likely that is all the information we will receive from Apple concerning their plans for the investment. Speculation around the investment stirs as Apple hasn’t been doing too hot in China. Recently China has shut down access to iTunes, iBooks, and iMovies, leaving revenue in China down by 11 percent in the most recent quarter.
It is my prediction that Apple is trying to regain market in China as well as advance themselves in the up and coming car market. Nothing has been released, but rumors around the Apple car are buzzing with anticipation as Apple has been recruiting auto executives and quietly searching for places to test drive automobiles. Suspect…
If you would like to educate yourself in more detail about the information presented in this blog post please visit: Apple Makes $1B Investment in Chinese Uber Rival