After years of bruising competition that cost them billions, the merger makes both companies much stronger.
On Monday, Uber China and its biggest rival in the country, ride-hailing service Didi Chuxing agreed to merge, ending a fierce competition between the two companies that was costing them billions of dollars. While Uber has a stranglehold on the market in many other countries, in China it was losing money, reportedly to the tune of $2 billion over the past two years.
