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Merge is such a cute word. "Uber lost China and had to sell to Didi" is more like it
by piyushpr134 10y ago
Merge is such a cute word. "Uber lost China and had to sell to Didi" is more like it
- marcoperaza 10y agoYes, this is a face-saving use of language. Most "mergers" that you hear of are actually acquisitions.
- netcan 10y agoWhat's the non-face-saving language?
- marcoperaza 10y ago"Bought out" comes to mind as having a very different connotation than "merged", even though they can often refer to the exact same events.
- snaky 10y ago"Kicked out of China"
- eva1984 10y agoFail to compete with Didi in China
- mohsinr 10y agoSo in future can Didi give challenge to Uber in other markets? or Due to this deal, Didi cannot come to US or other non-China markets and directly compete with Uber?
- eva1984 10y agoI don't think so. IMHO, it is even harder for Chinese company to come out than US internet company to go to China. The difficulty felt is mutual.
- kenbaylor 10y agoOr Uber invested $2bn and walked out with $7bn. Not a bad deal. Plus the value of the combined entity will skyrocket.
- techolic 10y agoNot exactly, Uber doesn't own all of the $7bn.
- JoachimSchipper 10y ago7bn is 20% of the 35bn.
- a_small_island 10y agoUber does not own all 20%, from the article: "Investors in Uber China, an entity owned by San Francisco-based Uber, Baidu Inc. and others, will receive a 20 percent stake in Didi, the people said. "
- sangnoir 10y ago> Or Uber invested $2bn and walked out with $7bn. Not a bad deal. Plus the value of the combined entity will skyrocket. Does that $2bn 'investment' figure include the $1bn/year losses they were incurring competing with Didi? Uber ploughed in more than $2bn into China, and got less than $7bn (as sibling comment says, the $7bn is not all going to Uber). I agree on the second point - the value of whatever percentage Uber owns is likely to go up.
- free2rhyme214 10y agoThe Chinese are cute. They win in their home country but nowhere else.
- altern8tif 10y agoGeez... With more than a billion people, that's a BIG win.
- yomly 10y agoThe Chinese probably think the same thing about the companies that are failing on their home turf...
- eru 10y agoLook around you. A lot of manufactured products you own will most likely be made in China.
- Trundle 10y agoMaybe one day they'll work out this whole global business thing. Btw did you read about Margaret Thatcher resigning? Pretty crazy huh.