Deal of the Week: Is Uber Failing with Its $35 Billion Didi Merger?by
After losing $2 billion in China, Uber threw in the towel this week, agreeing to merge with rival Didi Chuxing. Uber China will still own almost 20 percent of the new $35 billion company, which may mean Uber shareholders will still get rich off Didi’s success. But for now, Uber joins Ebay, Yahoo and Google among other Silicon Valley giants that have failed to flourish in China. Bloomberg technology reporter Eric Newcomer, who broke the details on the terms of the deal, discusses Uber’s future and China’s obstacles with host Alex Sherman.