Tag: Uber CEO Traviz Kalanick

Uber China to merge with local rival Didi: Bloomberg

BEIJING, China (AFP) — 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. Both companies have spent billions of dollars on subsidies for drivers and passengers, as well as trading vitriolic […]