Apple gets into the ride-sharing business in China with a $1b investment
May13
on May 13, 2016
at 4:54 am
We’ve heard plenty of rumors about Apple building a car over the past couple of years, all of which the company has vehemently denied. But today, it’s expanded its business to include vehicles in a way that you wouldn’t quite expect. Reuters reports that Apple has invested $1 billion in Didi Chuxing, the Uber-like ride-sharing service that dominates in China, having cornered more than 87 percent of the market there. Apple CEO Tim Cook said that the funding – the largest single investment Didi Chuxing has ever received – is a step towards helping his company gain a better understanding…
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