Uber dominates any discussion about smartphone car services in the U.S., but the company is a bit player in the race to win over Chinese taxi riders. By taking a new investment from Baidu that could be worth as much as $600 million, Uber is hoping for help in catching up with local competitors before it’s too late.
Baidu is the last of the three major Chinese consumer Internet conglomerates to invest in a ride-sharing app. Tencent’s money is on Didi Dache. Alibaba has backed Kuaidi Dache, while also investing in Uber’s main rival in the U.S.—Lyft. For now, Lyft has no presence in China, and Didi Dache and Kuaidi Dache have cornered the market, controlling about 99 percent.
