ride-sharing

Are ride-sharing companies the new banks?

(Sept 5): In Southeast Asia, mobile banking is taking on a whole new meaning. Last week, Grab, one of the region's top ride-hailing companies, announced that users of its app can start sending credits -- used to pay for rides -- to each other. By the end of the year, they'll be able to use those credits at more than 1,000 restaurants and retailers. If all goes well, Grab will one day be known as an e-payment platform that just happens to offer a taxi service.

Will Uber, Grab and Didi ever make money?

(Aug 21): For several weeks now, the focus of attention in the so-called sharing economy has been the internal turmoil at ride-hailing giant Uber, the largest startup in the world. From allegations of sexual harassment at the company and fracases with drivers to founder and CEO Travis Kalanick’s abrupt resignation and his subsequent attempts to reassert control, from original venture capital (VC) investor Benchmark Capital filing a lawsuit to a court battle with Google on using stolen self-driving car trade secrets, Uber clearly has had more than its fair share of distractions lately. 

Apple invests US$1 bil in Uber’s China competitor Didi

Didi, Xiaoju Kuaizhi Inc

HONG Kong (May 13): Apple Inc invested US$1 billion ($1.38 billion) in Didi, the single largest investment the Chinese ride-hailing service has ever received as it battles Uber Technologies Inc.

Apple will help Didi build its data-driven ride-sharing platform, as the company now completes more than 11 million rides a day and serves about 300 million users, Didi said in a statement on Friday. It joins other investors including Alibaba Group Holding Ltd and Tencent Holdings Ltd.

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