Apple Gives Up Board Seat at Chinese Ride-Hailing Company Didi
Apple has given up its board seat at Didi Global as the Chinese ride-hailing company struggles to return to growth following crushing fines and restrictions imposed by Beijing's cyberspace regulator, reports Bloomberg's Mark Gurman.
Apple CEO Tim Cook with Didi Chuxing president Jean Liu in 2016 Adrian Perica, Apple's vice president of corporate development, resigned from the board earlier this month, according to a
notice posted on Didi's website.
Perica, who heads Apple's mergers and acquisitions strategy, joined Didi's board in 2016 after Apple made a $1 billion investment in the the ride hailing app. The move was described by CEO Tim Cook at the time as a "strategic investment" that would help Apple better understand the Chinese market.
The problems started for Didi last year, when Apple was informed by China's internet regulator that it must remove the Didi Chuxing ride hailing app from the Chinese App Store, after Beijing raised concerns about the Uber rival's possible misuse of personal data.
Didi's removal from China's mobile app stores effectively hamstrung the company and the action erased more than 80% of its market value. Then last month, following a year-long investigation, Didi was fined $1.2 billion by the Chinese government for infractions that Beijing said compromised national security.
The decision followed broader moves by Beijing to curb the influence of China's largest internet corporations and tighten the ownership of the personal data of hundreds of millions of users held by the likes of Alibaba, Tencent, and others.
Apple's investments and acquisitions have dramatically slowed over the past two years, with the tech giant being more selective in the face of a shaky economy and heightened government scrutiny.
Popular Stories
Apple says iOS 16.4 is coming in the spring, which began this week. In his Sunday newsletter, Bloomberg's Mark Gurman said the update should be released "in the next three weeks or so," meaning a public release is likely in late March or early April.
iOS 16.4 remains in beta testing and introduces a handful of new features and changes for the iPhone. Below, we have recapped five new features ...
As previously rumored, the next-generation iPhone 15 Pro and iPhone 15 Pro Max will feature a unified volume button and a mute button, according to leaked CAD images shared in a video on the Chinese version of TikTok and posted to Twitter by ShrimpApplePro.
Instead of separate buttons for volume up and volume down, the iPhone 15 Pro models are expected to have a single elongated button for...
The iOS 16.4 update that is set to be released to the public in the near future includes voice isolation for cellular calls, according to notes that Apple shared today.
Apple says that Voice Isolation will prioritize your voice and block out the ambient noise around you, making for clearer phone calls where you can better hear the person you're chatting with and vice versa.
Voice...
The iOS 16.4 release candidate version that was provided to developers today appears to hint at a new set of AirPods that could be coming in the near future. According to @aaronp613, the beta features references to AirPods that have a model number of A3048 and an AirPods case with a model number of A2968.
There have been no rumors that new AirPods are on the horizon, and it is early for...
Nothing today announced the launch of its second-generation wireless earbuds, the Nothing Ear (2), which offer many of the same features as Apple's AirPods Pro 2 at a lower price point. We went hands-on with the Ear (2) earbuds to see whether they're a viable alternative to the AirPods Pro 2 for those who want to save some cash.
The Ear (2) earbuds are the successor to the Nothing Ear (1),...
Apple today seeded the release candidate versions of upcoming iOS 16.4 and iPadOS 16.4 updates to developers for testing purposes, with the software coming a week after the launch of the fourth betas. The RCs mark the final version of the software that will be provided to the public in the near future. Registered developers are able to download the iOS 16.4 and iPadOS 16.4 updates...
Apple is tracking the attendance of its employees at offices using badge records in order to ensure they are coming in at least three times a week, according to Platformer's Zoë Schiffer.
Since April 2022, Apple employees have been operating on a hybrid home/office work policy as part of a gradual return strategy following the pandemic, with staff required to work from the office at least...
While the iPhone 15 series is still around six months away from launching, there have already been plenty of rumors about the devices. Many new features and changes have been rumored for the iPhone 15 Pro and iPhone 15 Pro Max in particular.
Below, we have recapped 10 changes rumored for iPhone 15 Pro models that are not expected to be available on the standard iPhone 15 and iPhone 15 Plus:A1...
Top Rated Comments
Retail investors deep in the red with big losses. VCs and founders ran off with the money already.
These type of businesses are parasite businesses. They just feast on the blood of the masses while adding costs everywhere.
Your rent is higher because of Airbnb property speculators.
Your pollution is higher because ride sharing clogs the streets and people get tempted to use that instead of public transport.
Zero sum game and zero benefit for the masses. Only a small number of rich people gain.