Didi Chuxing, the Chinese ride-hailing app, has filed to go public with the U.S. SEC. It's expected that the company will be publicly listed on the NYSE and Nasdaq as soon as July.
The People's Bank of China has reached an agreement with ride-hailing firm Didi Chuxing to integrate digital yuan payments in a bid to test it before bringing it to the wider Chinese economy.
Following Uber's lead, DiDi has partnered with Microsoft to release a new add-in for Outlook which will enable employees to book a ride while eliminating the hassle of cash payments and paperwork.
Uber's business is booming across its core markets, yet the company is still losing money and has confirmed that over the first half of 2016, $1.27 billion dollars have been lost. What's gives?
Uber is reportedly giving up on its Chinese operations and selling them to its main rival, Didi Chuxing. Meanwhile, Didi will invest $1 billion in Uber's global business and get a seat on the board.
After the recent investment by Apple in Chinese ride hailing firm, Didi, Toyota is partnering with Uber, which would see the automaker provide cars to ride hailing service.
With a view to better understand the Chinese market, Apple has invested a billion dollars in ride-hailing service, Didi Chuxing, which is already more valued in the country than Uber.