WHITE FLAG

Uber Surrenders to Its Chinese Rival

Didi Chuxing will absorb Uber’s Chinese business after a long and expensive battle between the two ride-hailing apps in the country. According to a statement, Didi Chuxing will gain the business operations, brand, and data for Uber’s China operations. “I have no doubt that Uber China and Didi Chuxing will be stronger together,” Travis Kalanick, an Uber chief executive, reportedly said. Uber has not publicly commented on the move as a company, the Los Angeles Times reported. The joint operations will be worth an estimated $35 billion.