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Apple invests $1bn in China Uber rival

Apple invests $1bn in China Uber rival

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©AFP

Apple is to invest $1bn in
Didi Chuxing — the biggest injection received by the loss-making Chinese ride hailing app that is Uber’s main competitor in the country, and the US group’s biggest minority investment.

Formerly known as Didi Kuaidi, the company has been valued at $20bn in recent funding rounds, up from $15bn last July. Apple did not specify what size of stake it will…

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