Apple makes foray into ride-sharing business with $1 billion investment in China's Didi Chuxing

By Gadjo Cardenas Sevilla

Under pressure to find new revenue streams and segments to secure its continued success, Apple Inc. has invested $1 billion in China's largest Uber competitor Didi Chuxing. In a statement, CEO Tim Cook said that the investment allows Apple a chance to learn more about certain segments of the Chinese market, while it will also deliver a strong return.

“We are making the investment for a number of strategic reasons, including a chance to learn more about certain segments of the China market,” Cook said. “Of course, we believe it will deliver a strong return for our invested capital over time as well."

Apple has long been rumoured to be working on an electric car, it has amassed a large number of engineers from various automotive companies and even recently hired former Tesla VP of Engineering Chris Porritt for 'a special car project'. While Apple has been known to pour billions into R&D and even explore various products that never come to market (but the result of their research proves valuable enought to emerge elsewhere), there's a strong chance the Didi Chuxing investment can have a direct correlation to future Apple plans.

Didi Chuxing is referred to as “China’s Uber” by many. It allows users to request vehicles and taxis via their smartphone, much like Uber, which is its largest competitor in China. China is a key market for Apple and Apple's future growth. The company suffered a few blows in the country when its Books and Movies service was pulled offline due to government regulation. Apple also lost the iPhone trademark in China to a leather manufacturer.

Apple's latest results revealed a 13% drop in revenue on slower iPhone sales. Sales in China had plunged by 26%.

Source: 9to5Mac

Foodora app and service is the Uber of restaurant delivery solutions

By Gadjo Cardenas Sevilla

We've all been there. Running out of time and hankering for a good meal in between meetings or something a bit more special to put on the dinner table when no one has time to cook or prepare a proper meal. Fast-food and deliery services are alright for certain conditions but sometimes you just want to have the food from your favourite restaurant without having to make reservations, dress up and wait to be served.

Click to read more ...

Uber starts the year with price cuts

If you use Uber regularly, you might notice a drop in prices recently. And that isn’t a fluke. At the start of the year, Uber drops prices in over 100 Canadian and US cities to encourage the riding public to use the service. January is a slow month for Uber with the cold weather and people staying in and trying to save money. It wasn't specificied in their announcement how much Uber cuts in terms of prices, though, as it differs in every city.

Uber promises that their drivers won’t be taken advantage of either. According to the company’s press release on the announcement: “Higher demand means more time moving people, less time spent waiting around and more money for drivers. And if drivers aren’t busier, prices will go back up again. In addition, we are guaranteeing earnings for drivers to ensure that no one is disadvantaged.” In some cities where they dropped prices, driver earnings have increased year after year. But there are also some drawbacks in certain cities. They promise though to try new things to help out both riders and drivers.

Source: Uber

Uber celebrates its billionth ride

Disruptive transport service and app Uber recently completed its billionth ride in London, England. The company, which is quite remarkable for a company that was launched in 2010 and is now operating across the globe.

Uber has been met with resistance in a number of countries, including right here in Toronto, Canada where it has faced off against traditional taxi services. Despite these challenges, Uber has a valuation of US $56 billion plus a sustained momentum due to the convenience and general reliability. Uber allows subscribers to the app to instantly find various types of taxis, SUVs or limousines and payments are handled via the app which also serves as a rating system for both riders and passengers. Uber has also launched UberEats, which aims to change the way food delivery is done in certain cities.

Source: Engadget via AutoBlog