Uber CEO explains why he sold China biz to Didi
After Uber announced selling its China business to rival Didi Chuxing, Uber's Co-founder and CEO Travis Kalanick said, "Uber and Didi are investing billions of dollars in China and both companies have yet to turn a profit there." Kalanick added, "If you've the opportunity to build both Amazon and Alibaba at the same time, you’d be crazy not to try."