Uber China To Merge With Rival Didi Chuxing

Uber China To Merge With Rival Didi Chuxing by PitchBook

Last week’s big news was that China’s government legalized app-based ridesharing services. This week’s even bigger news, first reported by Bloomberg, is that Uber will sell its China business to rival Didi Chuxing, ending its long and expensive battle for market share in the country. Uber and its Chinese investors will get a 20% stake in the combined company, which will be valued at $35 billion.

As part of the deal, Didi will invest $1 billion in Uber at a $68 billion valuation.

Seth Klarman: Investing Is Art First, Craft Second And Science Third

Seth KlarmanSeth Klarman is considered to be one of the best value investors of all time. Unfortunately, he does not give many interviews or lectures. Q2 2020 hedge fund letters, conferences and more Luckily, those interviews and speeches that he does give are stuffed full of information and highly insightful comments that value investors can learn Read More

We’ll continue to cover this story, including looking into how the new deal may affect Didi’s partnership with U.S.-based Lyft, India’s Ola and Singapore’s Grab.

Check out our recent coverage of the ridesharing space