Didi Chuxing, the Chinese ride hailing service formerly known as Didi Kuaidi, has received a $1bn strategic investment from Apple that could form part of a $1.5bn round.
Electronics producer Apple has invested $1bn in Didi Chuxing, the China-based ride hailing app formerly known as Didi Kuaidi, Apple CEO Tim Cook told Reuters yesterday.
Didi Chuxing is the operator of China’s most popular app-based ride ordering service, spanning taxis, private cars, carpooling, buses and business transport services. It claims to be responsible for some 11 million rides each day, equating to an 87% market share in its home country.
Apple has not been a fervent corporate venturer but…
