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> “Uber and Didi Chuxing are investing billions of dollars in China and both companies have yet to turn a profit there. Getting to profitability is the only way
by erikpukinskis 10y ago
> “Uber and Didi Chuxing are investing billions of dollars in China and both companies have yet to turn a profit there. Getting to profitability is the only way to build a sustainable business that can best serve Chinese riders, drivers and cities over the long term.”
Hm. This makes me wonder if their strategy for doing that is price fixing. The merger lets them do that legally.
Are there any other serious players in the market in China?
- thesimpsons1022 10y agoas said earlier in this thread: >Jean Liu, the president of Didi, is the daughter of Chinese businessman and Lenovo founder Liu Chuanzhi, and the granddaughter of Liu Gushu, a senior executive banker at the Bank of China. this deal a long with the entrenched interests almost assure a government sanctioned monopoly.
- Eutow 10y ago>The deal with Didi Chuxing comes just days after China agreed to provide a legal framework for taxi-ordering apps. Both Uber and Didi have welcomed the decision, having previously operated in a legal grey area in the country. While the apps are widely popular, they have undermined business for normal taxis and have been met with protests by cab drivers. The new rules will take effect on 1 November and will, among other things, forbid such platforms to operate below cost. http://www.bbc.com/news/36938812 http://www.bbc.com/news/36938812
- chw9e 10y agoPerfect excuse for Didi to raise prices after gaining monopoly share of the market...