Didi president drops hints about Apple’s $1bn investment in China

(From China Daily)

There’s a lot of wild guessing around the possible reasons for Apple Inc’s recent $1 billion investment in Didi Chuxing, China’s biggest ride-sharing company, as analysts say the California-based tech giant wouldn’t usually participate in a fund-raising round for a startup.

Jean Liu

Didi President Jean Liu

But Jean Liu, or Liu Qing, Didi’s president, hinted otherwise about the company’s single biggest financing to date.

“We got to know each other not too long ago, but we clicked very quickly because the two companies share a lot of similar philosophies….That gives us a lot of common ground,” she told CNBC during a TV interview.

“In the meantime in China, we share a huge overlap in customer base,” she said, adding that most of Didi’s drivers and customers use Apple products such as iPhones and iPads. “So I think it’s very intuitive.”

Technology is the number one focus of Didi, Liu said, “How we can match the supply and demand – the vehicles, drivers with the passengers.” Read more

Categories: Asia Unhedged, China

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