The world was taken a bit by surprise this morning with the announcement that Apple was jumping into the ride-sharing economy in a particularly big and attention-grabbing way. The world’s most successful company made a ten-digit investment in China’s most successful ride-sharing service, Didi Chuxing.
The move comes as declining iPhone sales numbers are pushing Cupertino to diversify their profit stream, and Apple’s CEO Tim Cook noted of the deal that it gives his firm a variety of opportunities to expand their presence in the important Chinese market. It also gives Apple a chance to go head-to-head with Silicon Valley’s most beloved businesses, as Uber is dedicatedly and directly competing with Didi.
With so much intrigue, what are the crucial figures?
$25 Billion | Didi Chuxing’s most current valuation based on analyst estimates. The firm was valued at $16.5 billion a little over a year ago.
$1 Billion | Apple’s total investment in Didi Chuxing. According to the ride-sharing service this is the largest single investment it has ever received.
11 Million | The number of rides that Didi Chuxing completes per day in China.
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87% | Didi Chuxing’s estimated share of the private Chinese ride-sharing market.
26% | The amount Apple’s sales fell in China during the quarter that ended April 30. That decline during the first quarter of 2016 contrasts with 84-percent growth in China in FY 2015.
