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Uber lost around $1.2 billion in the first half of this year, and China is partly to blame

2 months ago
Sky Canaves
ources say Uber spent billions on subsidies to draw drivers and customers in China, where it was fighting to wrest market share from the dominant player, Didi Chuxing, before agreeing to sell its China business to Didi earlier this month.
By Sky Canaves
Sky Canaves previously reported for The Wall Street Journal in Beijing and Hong Kong, where she covered media, culture, social issues, and legal affairs, and served as the founding editor and lead writer of the WSJ’s China Real Time site. Prior to becoming a journalist, Sky worked in the China corporate law practice of Baker & McKenzie, and she has also taught journalism and media law at the University of Hong Kong. She speaks Mandarin and has accumulated more than a decade's experience living, studying and working in China.