Apple Invests $1 billion In Didi Chuving (the Car-Hailing App)


Apple
Photo source: slicon.de
Apple's investment of $1 billion into Didi Chuxing, the car-hailing app was disclosed by the CEO of Apple Tim Cook saying that it would "help them understand the Chinese market."

Chinese App transport firm
Photo source:daxuecosulting.com
 Didi Chuxing, is a Chinese transport network founded in 2012 has stated that they have provided more than 11 million rides a day and claimed to have over 80 percent of the Chinese market share is compared to US's Uber.
 Uber, who is struggling at the Chinese market admitted that over a billion Dollars was lost in China, upon all the "discounted" ride the offer.
 Tim Cook, Apple's CEO said Apple's collaboration with Didi Chuxing would yield opportunities for Apple.

 Earlier on Apple said China is their second-biggest market. Although, Apple said last month that they experienced a fall in revenue which is their first time since 2003 and China was their weak point.
  
Mr. Paul Kola explains how he got 50% of his revenue after investing it in this profitable platform

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