Apple invests $1B in Didi Chuxing, China’s largest ride-hailing app –

In an interview with Reuters, Apple CEO Tim Cook said, “We are making the investment for a number of strategic reasons, including a chance to learn more about certain segments of the China market. In a press release, Didi Chuxing founder and CEO Cheng Wei said, “The endorsement from Apple is an enormous encouragement and inspiration for our four-year-old company. Didi will work hard with our drivers, riders and global partners, to make available to every citizen flexible and reliable mobility choices, and help cities solve transportation, environmental and employment challenges.” China is on its way to becoming Apple’s biggest iPhone market, but the company has faced a few recent setbacks there. After years of giving it a relatively free rein for a U.S. tech company, the Chinese government ordered the closure of iBooks Store and iTunes and Movies just six months after the services launched in China. For example, if Didi Chuxing uses CarPlay, that gives Apple another outlet to sell software services in China beside the iPhone, as well as valuable data to tailor apps and maps for Chinese users.