Apple-backed Chinese Uber Rival Didi Chuxing Raises Another $600 Million

by

Chinese car-hailing service Didi Chuxing revealed today that it has secured a $600 million investment from China Life Insurance Company Ltd, one month after it raised $1 billion courtesy of Apple (via Fortune).

China Life is the largest insurer in the Asia-Pacific region by market value. The agreed investment reportedly includes equity of $300 million and a long-term borrowing commitment of $305 million, the companies said in a statement.

Didi-Chuxing
"The two parties will also collaborate on investment opportunities in mobile transportation and related sectors in China and beyond," the statement said.

The company's fund-rasing efforts are aimed at helping it fend off Uber's encroachment into China. Earlier this month, Uber raised $3.5 billion in resources from Saudi Arabia's sovereign wealth fund, while Apple CEO Tim Cook called Apple's investment in Didi a strategic move that would help the Cupertino company better understand the Chinese market.

In related news, Uber announced last week that users of the service will now be able to reserve rides from 30 minutes to 30 days in advance.

The pre-booking option was introduced in Seattle on Thursday and will extend to other "top business travel cities" in the near future, Uber revealed in a blog post.

The feature is currently limited to the company's low-cost Uber X service, which operates its fleet of non-luxury cars.

Users of the Uber app need only to select "uberX" and tap "Schedule a ride", whereupon they can set a pickup date, time, location, and destination, confirm their details, and tap "Schedule uberX".

The decision to offer a pre-booking option marks a shift away from the company's original "on-demand" ethos, and follows in the footsteps of Lyft, which began testing a similar service in May in San Francisco.

"Scheduled rides have been a top requested feature at Uber since the very early days," said Tom Fallows, Uber's director of global experiences. "Even though we're an on-demand company we totally get it. Sometimes you want that extra reassurance."

Top Rated Comments

machpost Avatar
60 months ago

Hopefully this investment becomes successful

I would hope so. After all, it's not like Apple to just go around chuxing money out the window, even if it's the window of a Chinese ridesharing car.
Score: 1 Votes (Like | Disagree)

Top Stories

magsafecasedangle

Apple Elaborates on Potential for iPhone 12 and MagSafe Accessories to Interfere With Implantable Medical Devices

Saturday January 23, 2021 2:42 pm PST by
Since the launch of iPhone 12 models in October, Apple has acknowledged that the devices may cause electromagnetic interference with medical devices like pacemakers and defibrillators, but the company has now shared additional information. Apple added the following paragraph to a related support document today:Medical devices such as implanted pacemakers and defibrillators might contain...
Top Stories 44 Feature

Top Stories: 'Thinner and Lighter' MacBook Air, Smaller iPhone 13 Notch, iOS 14.4 Incoming

Saturday January 23, 2021 6:00 am PST by
We continued to hear a lot more about Apple's plans for its Mac lineup this week, including word of a high-end redesigned MacBook Air and the return of an SD card slot as part of the upcoming MacBook Pro redesign. It also sounds like Apple has been working on Face ID for Mac, but it won't be appearing in a redesigned iMac this year as originally planned. This week also saw rumors about the...
bloodoxygenapplewatch

Apple Watch Series 7 Rumored to Feature Blood Glucose Monitoring

Monday January 25, 2021 5:05 am PST by
The Apple Watch Series 7 will reportedly feature blood glucose monitoring via an optical sensor, according to ETNews. The report, which mainly focuses on the blood glucose capabilities of the Samsung Galaxy Watch 4, explains that Apple is intending to bring blood glucose monitoring to the upcoming Apple Watch Series 7 using a non-invasive optical sensor. Measuring blood glucose levels,...
maxresdefault

Microsoft Touts Surface Pro 7 as 'The Better Choice' Over MacBook Pro in New Ad

Saturday January 23, 2021 11:02 am PST by
Microsoft yesterday shared a new ad on YouTube titled "Microsoft Surface Pro 7: The Better Choice," in which the company compares its tablet computer to Apple's 13-inch M1 MacBook Pro, as spotted by MSPoweruser. The ad highlights the Surface Pro 7's touchscreen and included stylus as opposed to only a "little bar" (the Touch Bar) on the MacBook Pro. Other advantages of the Surface Pro 7...
airpods galaxy buds comparison

Samsung Galaxy Buds Pro vs. Apple AirPods Pro

Friday January 22, 2021 2:34 pm PST by
Samsung in January unveiled new flagship Galaxy S21 smartphones and alongside the new phones, introduced the $200 Galaxy Buds Pro, which are priced at $199 and offer Active Noise Cancellation. Subscribe to the MacRumors YouTube channel for more videos. These new Galaxy Buds Pro are clearly designed to compete with Apple's AirPods Pro, so we thought we'd compare the two sets of earbuds in our...
2021 mbp sd slot feature2

Bloomberg: Next MacBook Pro to Feature SD Card Reader

Friday January 22, 2021 7:50 am PST by
Last week, reputable analyst Ming-Chi Kuo outlined his expectations for new 14-inch and 16-inch MacBook Pro models later this year, including the return of the MagSafe charging connector, the removal of the Touch Bar, a new flat-edged design, and the return of more ports built into the notebooks for expanded connectivity. A concept of a modern MacBook Pro with an SD card reader Kuo did not...
time to walk apple watch

Apple Fitness+ Feature 'Time to Walk' Launching Soon With Audio Stories From Special Guests

Saturday January 23, 2021 7:13 pm PST by
Earlier this week, Apple seeded the watchOS 7.3 Release Candidate, which is typically the final beta version of a software update. The release notes for the update list a new "Time to Walk" feature for Apple Fitness+ subscribers, described as "an audio experience in the Workout app where guests share inspiring stories as you walk." Apple Fitness+ subscribers will be able to open the Workout...
Flat MacBook Air Feature

Bloomberg: Apple Working on 'Thinner and Lighter' High-End MacBook Air With MagSafe, Could Launch in Second Half of 2021

Friday January 22, 2021 3:34 am PST by
Apple is working on a "thinner and lighter" version of the MacBook Air that the company plans to release during the second half of this year at the earliest or in 2022, according to a new report by well-connected Bloomberg journalist Mark Gurman. It will include Apple's MagSafe charging technology and a next-generation version of the company's in-house Mac processors. Apple has discussed...
q4 2020 mac growth feature

Mac Sales Skyrocketing After M1 Launch

Tuesday January 19, 2021 3:00 am PST by
Apple's worldwide Mac shipments grew massively in the fourth quarter of 2020 after the launch of three new Macs with the M1 chip, according to new PC shipping estimates shared by Gartner. Apple shipped an estimated 6.9 million Macs, up from the 5.25 million it shipped at the same time in 2019, marking significant growth of 31.3 percent. In spite of the growth of Mac sales, Apple remained...
apple time to walk apple watch airpods 01252021 inline

Apple's New 'Time to Walk' Feature Launches Today for Fitness+ Subscribers

Monday January 25, 2021 6:30 am PST by
Apple today officially introduced Time to Walk, a new feature for Apple Fitness+ subscribers with audio stories from influential people that Apple Watch users can listen to with AirPods or other wireless headphones while walking. Time to Walk episodes will be automatically downloaded to the Apple Watch with a Fitness+ subscription, and users can start an episode directly from the Workout...