Qatar Today - - AFFAIRS > TECH TALK -

Didi Chux­ing and Uber China will join forces to end a long-stand­ing ri­valry and cre­ate a new com­pany worth ap­prox­i­mately $35 bil­lion, 20% of which will be owned by Uber China. The move is a Hail Mary for both or­gan­i­sa­tions, nei­ther of which has been able to turn a profit in China. After three years, Uber cur­rently op­er­ates in more than 60 Chi­nese cities, and plans to ex­pand into an­other 30 soon. Didi, mean­while, op­er­ates in 400 ar­eas, and of­fers taxis, pri­vate cars, ride-shar­ing, and other ser­vices, fa­cil­i­tat­ing more than 11 mil­lion rides per day – or $1.43 bil­lion – in 2015.

On the other side of the world, Ya­hoo fi­nally found a buyer. Ver­i­zon of­fi­cially ac­quired Ya­hoo's core busi­ness for $4.83 bil­lion in cash, which in­cludes Ya­hoo's ad­ver­tis­ing, con­tent, search and mo­bile ac­tiv­i­ties. Ya­hoo's stakes in Alibaba and Ya­hoo Ja­pan aren't part of the ac­qui­si­tion, whose stakes are worth tens of bil­lions of dol­lars alone. But Ya­hoo's Sun­ny­vale head­quar­ters are part of the ac­qui­si­tion.

Newspapers in English

Newspapers from Qatar

© PressReader. All rights reserved.