Under the Didi deal, Uber and its backers will have a 20 percent economic interest in China’s largest ride-sharing company. The China deal will also allow Uber to free up capital to double down on putting resources into other markets and hire more engineers locally in India, the people said. Having raised more than $15 billion and valued at $68 billion, Uber has a long bench of investors from venture capitalists and hedge funds to sovereign wealth funds. It’s not clear what impact the China deal will have on that alliance. “With the deal in China, we expect Uber to turn more attention and divert resources to our region,” according to the memo seen by Bloomberg.

Source: Thanhnien News August 02, 2016 09:11 UTC