Uber lost around $1.2 billion in the first half of this year, and China is partly to blame
Sources 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.
China in 2 minutes a day
More from SupChina
Friday, May 26
May 26, 2017