Behind Didi’s defeat of Uber in China: hustle, a founder with a penchant for military history and the wisdom of an alliance
At the height of the brutal competition between Didi and Uber to dominate China's ride-hailing business, each company was burning $1 billion a year. Didi, which had fought for years against local rivals, emerged the victor, purchasing Uber's China business because both firms saw greater advantages to abandoning the conflict. At the meeting between the firms' leaders to finalize the deal, they showed mutual respect and raised glasses of baijiu. Didi's founder, Cheng Wei, said Uber CEO Travis Kalanick's "alcohol tolerance is just so-so."
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