Uber is selling its China business to dominant local rival Didi.

arto71

Well-Known Member
http://www.theverge.com/2016/8/1/12339950/uber-didi-chuxing-china-merge

Chinese ride-hailing service Didi Chuxing is taking over Uber's local business in a deal valuing the combined company at $35 billion, Bloomberg reports. Didi is also said to be investing $1 billion in Uber based on a $68 billion overall valuation. Specific terms of the deal aren't yet clear, though Didi Chuxing was recently valued at $25 billion.

"As an entrepreneur, I've learned that being successful is about listening to your head as well as following your heart," Uber CEO Travis Kalanick was reported as saying in a yet-to-be-published blog post obtained by Bloomberg. "Uber and Didi Chuxing are investing billions of dollars in China and both companies have yet to turn a profit there. Getting to profitability is the only way to build a sustainable business that can best serve Chinese riders, drivers and cities over the long term."


Uber has found it extremely hard to grow in China against Didi's dominance; the Chinese company recently gained worldwide attention after receiving $1 billion in investment from Apple, and later secured more than $7 billion in total. Today's deal could be seen as Uber giving up, but its investors will take a stake in the newly merged alliance with Didi, and Uber as a whole will be able to stem the massive losses it's been suffering in the region. Bloomberg reports the company has lost over $2 billion in China to date.
 

tohunt4me

Well-Known Member
Well I guess it's good for the investors that they keep their stakes in Uber China... but now Uber the actual company might be a hard sell for future investors.


Talk about collusion... has anyone seen something like this THIS fast ever?
Read between the lines.

What is the health of Uber after hemmorrhaging 2 BILLION DOLLARS.

THAT 2 BILLION WONT FALL OUT THE SKY FOR UBER AGAIN.
 

Brooklyn

Well-Known Member
Read between the lines.

What is the health of Uber after hemmorrhaging 2 BILLION DOLLARS.

THAT 2 BILLION WONT FALL OUT THE SKY FOR UBER AGAIN.
They've taken enough loans to hold off until they're able to recoup their losses

Up next.. price fixing... watch when the prices/surges shoot up and the cut the driver gets drops... I was always curious as is if the customer/driver see the same prices always or not but best believe if Didi has connects with Lyft, now Uber and Didi is connected with Uber... there's no other big market app... they've covered all their bases pretty much. I haven't been on here in awhile so I don't know what's going on in Austin but I commend them for saying screw that.
 

Brooklyn

Well-Known Member
We don't need a DRIVERS UNION.

WE NEED a DRIVERS INVESTMENT GROUP TO BUY LYFT !

GET THE CAB COMPANIES IN ON IT TOO !

We don't move now,the chance WILL NEVER COME AGAIN !

You do realize that Didi and Lyft are connected right?

A very wise man once said "you played yourself"

All that going back and forth between apps and trying to "stick it" to certain ones meanwhile all along they screwed everyone and are merging together.
 

Hackenstein

Well-Known Member
Well I guess it's good for the investors that they keep their stakes in Uber China... but now Uber the actual company might be a hard sell for future investors.


Talk about collusion... has anyone seen something like this THIS fast ever?
China legalized ride sharing this week (starts Nov 1), but it isn't weak US inspired do-whatever-you-want bs and would have made it impossible for Uber to continue. China basically told Uber you can't bribe us, and you can't keep the unfair competition routine going. Amazing, huh.


1. 'But they also include a stern message to the sector that could make ride-hailing a lot less attractive in China. The Chinese authorities are apparently determined to root out the “unfair” competition these companies present. Article 21 of the new law states:

Online ride-booking companies must not have unfair or illegal pricing behavior that disrupts market orders, or damages state interests or other operators’ legal rights. They must not set prices below cost to push out competitors or dominate the market.'


2
. 'In addition, Article 3 states that ride-hailing companies are allowed to adjust their ride prices in response to the market, but local authorities reserve the right to give out a “government guidance price” when necessary.

That could mean subsidized rides are on their way out, which could deal an especially devastating blow to Uber—unnaturally cheap rides are key to getting people to try the service for the first time.

...huge subsidies are paid directly to drivers in China, to keep them driving while offering riders super-cheap fares.These low prices helped ride-hailing become popular, even in towns that already have taxis and other public transport. (Uber rides in my hometown of Shanghai, for example, can be 30% cheaper than taxis on the same route.)'


3. 'The new law, which takes effect on Nov. 1, requires drivers to have three years of driving experience and no criminal record, and to be licensed by a local taxi authority.'
 

tohunt4me

Well-Known Member
What if :

All the Uber drivers bought Lyft ,and worked for/ owned Lyft ?

Who makes the company ?

Algorithms?

Uber?

Us !

Think we could manage to treat ourselves and customers better than Uber has ?
 

tohunt4me

Well-Known Member
China legalized ride sharing this week (starts Nov 1), but it isn't weak US inspired do-whatever-you-want bs and would have made it impossible for Uber to continue. China basically told Uber you can't bribe us, and you can't keep the unfair competition routine going. Amazing, huh.


1. 'But they also include a stern message to the sector that could make ride-hailing a lot less attractive in China. The Chinese authorities are apparently determined to root out the “unfair” competition these companies present. Article 21 of the new law states:

Online ride-booking companies must not have unfair or illegal pricing behavior that disrupts market orders, or damages state interests or other operators’ legal rights. They must not set prices below cost to push out competitors or dominate the market.'


2
. 'In addition, Article 3 states that ride-hailing companies are allowed to adjust their ride prices in response to the market, but local authorities reserve the right to give out a “government guidance price” when necessary.

That could mean subsidized rides are on their way out, which could deal an especially devastating blow to Uber—unnaturally cheap rides are key to getting people to try the service for the first time.

...huge subsidies are paid directly to drivers in China, to keep them driving while offering riders super-cheap fares.These low prices helped ride-hailing become popular, even in towns that already have taxis and other public transport. (Uber rides in my hometown of Shanghai, for example, can be 30% cheaper than taxis on the same route.)'


3. 'The new law, which takes effect on Nov. 1, requires drivers to have three years of driving experience and no criminal record, and to be licensed by a local taxi authority.'
Section 1.

Preserving Infrastructure.

Imagine Uber bankrupts rail,Busses,taxis.

Imagine Uber is as Unsustainable as it seems.

What then ?

People walk & ride bikes ?

Infrastructure must be preserved.
 

Hackenstein

Well-Known Member
Section 1.

Preserving Infrastructure.

Imagine Uber bankrupts rail,Busses,taxis.

Imagine Uber is as Unsustainable as it seems.

What then ?

People walk & ride bikes ?

Infrastructure must be preserved.
Yes, precisely. Uber doesn't care at all about bankrupting mass transit with artificially low prices. They're actively trying to do it in NYC, and the MTA is starting to grow tired of it. They've now asked the city why Uber doesn't pay the same .50 MTA surcharge per ride taxis pay.
 

tohunt4me

Well-Known Member
Yes, precisely. Uber doesn't care at all about bankrupting mass transit with artificially low prices. They're actively trying to do it in NYC, and the MTA is starting to grow tired of it. They've now asked the city why Uber doesn't pay the same .50 MTA surcharge per ride taxis pay.
The more taxis that end up off the road,the more TAX MONEY UBER WILL HAVE TO REPLACE.

Budget money is spent before it is received.

GOVERNMENT WILL BE PAID.
 

Argantes

Well-Known Member
We don't need a DRIVERS UNION.

WE NEED a DRIVERS INVESTMENT GROUP TO BUY LYFT !

GET THE CAB COMPANIES IN ON IT TOO !

We don't move now,the chance WILL NEVER COME AGAIN !
Good luck with that, people don't care these days, even after years and years of abuse by rich corporations and the 1% the people keep going on, they (ie. the media, owned by the 1%) has done a good job of keeping people zombified and created this "dog eat dog" mentality that if you don't work and try to protest that well find someone else to take your place.
 

Hackenstein

Well-Known Member
The more taxis that end up off the road,the more TAX MONEY UBER WILL HAVE TO REPLACE.

Budget money is spent before it is received.

GOVERNMENT WILL BE PAID.
The other day I was driving down Columbus Ave (yellow cab, NYC) and passed two women maybe 8 blocks apart looking at their phones, clearly waiting for a ride. I thought the second was trying to hail, but she waved me away with a clear look of annoyance/disgust. Then I saw the large black SUV stop. Realized it was probably the 'Via' express. Cheap multiple pickup carpooling rides in a $60,000 SUV. Acting like a city bus. It takes five seconds to realize that cannot exist in a fair marketplace if you want to maintain a mass transit system. China is wise to the immense damage the flood of unnatural subsidies are doing.
 

tohunt4me

Well-Known Member
Good luck with that, people don't care these days, even after years and years of abuse by rich corporations and the 1% the people keep going on, they (ie. the media, owned by the 1%) has done a good job of keeping people zombified and created this "dog eat dog" mentality that if you don't work and try to protest that well find someone else to take your place.
The BEST protest we could create,would be to own LYFT ,and run it properly.

If we lose,Uber had the RIGHT business practice after all.

But I don't think so.

If Uber will not change to benefit the PARTNERS.

THE PARTNERS SHOULD COMPETE.
 

tohunt4me

Well-Known Member
The other day I was driving down Columbus Ave (yellow cab, NYC) and passed two women maybe 8 blocks apart looking at their phones, clearly waiting for a ride. I thought the second was trying to hail, but she waved me away with a clear look of annoyance/disgust. Then I saw the large black SUV stop. Realized it was probably the 'Via' express. Cheap multiple pickup carpooling rides in a $60,000 SUV. Acting like a city bus. It takes five seconds to realize that cannot exist in a fair marketplace if you want to maintain a mass transit system. China is wise to the immense damage the flood of unnatural subsidies are doing.
You kill the infrastructure how long would it take to rebuild ?

Could it ever be done ?

Imagine a city separated from work,school,food,shopping.

Imagine the tax revenue lost.

A paralyzed city.

Imagine the civil unrest from such a catastrophic !

Imagine the jobless Politicians !

I see FEDERAL GOVT. stepping in,SOON.
 
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