The battle between Uber and its fiercest competitor is over—and Uber lost — Quartz

A long-running battle in China between two powerful internet companies is over—and ride-hailing giant Uber has lost. Didi Chuxing, China’s most popular ride-hailing service, is set to acquire Uber, unnamed sources told Bloomberg and the Wall Street Journal. Didi will invest $1 billion, and Uber China investors will get a 20% stake in the new…

via The battle between Uber and its fiercest competitor is over—and Uber lost — Quartz