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takyon [soylentnews.org] writes:

Apple has invested $1 billion in Didi Chuxing [npr.org], China's most popular ride-hailing application and an Uber competitor:

Didi Chuxing, previously known as Didi Kuaidi, is a major competitor of Uber, which is spending big [theguardian.com] to try to break into China. By investing in the company, Apple joins web giants Alibiba Group (an e-commerce company) and Tencent Holdings (a game and entertainment service), Didi Chuxing said in its announcement Friday [prnewswire.com]. But Apple's investment is the single biggest infusion of cash in the company. The ride-hailing company says it has 300 million customers in 400 cities, and claims to hold "over 87 percent market share in private car-hailing and over 99 percent market share in taxi-hailing."

Also at The Register [theregister.co.uk].

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