Last May, Apple Chief Executive Officer Tim Cook traveled to China to try to solve some of the problems that the company has been facing in recent months, in part due to the country's censorship. Although after the visit, the problems have remained the same, since neither iBooks nor iTunes movies have been put back into operation, Tim Cook wanted to make clear the company's commitment by investing 1.000 million dollars in the Didi Chuxing company , the Chinese Uber. At that time the company's valuation was $ 28.000 billion.
Didi Chuxing just reached an agreement with Uber China to keep the entire market of this company in the country, thus reducing competition. After the operation, Uber will have 20% of the shares of the Didi company, which once the purchase of the Chinese section of Uber is confirmed, the value of the company will rise to 35.000 million dollars. In addition, Didi will have to pay Uber 1.000 million dollars, the same amount that Apple invested a few months ago in its visit to the country.
Both Didi and Uber have been losing money in China due to the emergence of new competitors that have been gaining a large share of the market. To try to avoid this situation, Didi has previously bought the company Kuaidi, a former competitor of both Uber and Didi, with what it has currently obtained after the purchase of Uber as well, has obtained a market share of 87%.
The reasons for Apple's investment in Didi, Cook reported they were strategic and financial, stating that China continues to be one of its priorities but not only to sell devices but as a country where to invest in companies. Some sources claim that Apple's investment was related to the Titan project, which Appel has been working on for a while and will not see the light of day until 2021.
