05.13.16

Apple invests $1 billion in Didi, Uber’s biggest rival in China

The huge investment will help the ride-sharing service, which operates in 400 cities, build up a platform that handles 11 million rides a day, reports Bloomberg. Other investors in Didi include Alibaba and Tencent, China’s biggest Internet companies. Apple CEO Tim Cook has talked about using the company’s $200 billion trove of cash for smart investments and this one seems to fit the bill–helping it “forge alliances in its single largest market outside of the United States. “MB

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