Uber’s rival in China isn’t just buying Uber – it’s buying its algorithms

A man checks a vehicle at an Uber event in Los Angeles. Uber’s archrival in China, Didi, is buying Uber’s China operations. ( Mark Ralston/AFP/Getty Images)Uber’s quest for global dominance once seemed unstoppable. But, like many tech companies before it, the ride-hailing juggernaut has hit a wall in China. Didi Chuxing, Uber’s archrival in China and the largest ride-hailing service in the country, is buying Uber’s China operations. [Uber loses bid for China business, plans to merge with main rival] Uber, which is privately valued by investors at $68 billion, will make money off the deal. The San Francisco company will receive a $1 billion investment from Didi, according to individuals familiar with the agreement. Investors in Uber China, a separate company owned by the San Francisco-based Uber and other investors,…


Link to Full Article: Uber’s rival in China isn’t just buying Uber – it’s buying its algorithms