Uber looking to sell some of its $6.3 billion stake in China's ride hailing Didi Chuxing

Uber is beginning to sell some of its investments to increase its stock price


Alfred Lee

21 Sep, 2020

Uber looking to sell some of its $6.3 billion stake in China's ride hailing Didi Chuxing | BEAMSTART News

- From our Sponsors -

American ride-hailing company, Uber, is looking to sell some of its $6.3 billion stake in China's ride-hailing company Didi Chuxing.

Uber's stock price has fallen to $36.41 as of September 17th, compared to its initial price of $45 at the time of its IPO. The company is aiming to increase its stock price by selling some of its investments.

CEO of Uber, Dara Khosrowshahi is said to be discussing the sale with Didi Chuxing and SoftBank.

CEO of Uber, Dara Khosrowshahi

The two ride hailing giants came to a strategic agreement where the Didi Chuxing would acquire Uber's business in China. Both companies held equity of each other after the transaction back in August 2016.

Uber’s financial report for the second quarter of 2020 (released in August) showed that the company’s second-quarter revenue was $2.241 billion, witnessing a decrease of 29% year-on-year.

“Uber’s reported plan to sell a minority stake in Didi, and its proposal for a similar approach to Yandex, may help offset cash burn that’s compounded by a shift in bookings mix toward food delivery,” said Mandeep Singh, a senior analyst from Bloomberg Intelligence.
Didi Chuxing expands to Russia

While Didi Chuxing has predominantly been based in China, the company has recently started expanding its presence to foreign markets as of late.

However, both Uber and Didi Chuxing have yet to comment on the matter. 

- From our Sponsors -

Latest Jobs

Full-Stack Engineer

Clarion

New York,

Full Time

USD 150000 — USD 220000 yearly

Senior Software Engineer, Song Quiz

Volley

California,

Full Time

Salary Undisclosed

Director, Service Operations

Curri

California,

Full Time

USD 160000 — USD 190000 yearly

Founder's Office

CozmoX AI

California,

Full Time

USD 50000 — USD 100000 yearly

Launch Operations Specialist

RealRoots

California,

Contract

USD 80000 — USD 90000 yearly

Solutions & Sales Operations

Zensors

California,

Full Time

Salary Undisclosed

Account Executive (US)

Kombo

New York,

Full Time

USD 200000 — USD 220000 yearly

Product Strategist

Corgi

California,

Full Time

USD 100000 — USD 180000 yearly

Member of Technical Staff – Backend Engineering

Activeloop

California,

Full Time

USD 150000 — USD 250000 yearly

Customer Success Manager

Tank Payments

Texas,

Full Time

USD 75000 — USD 110000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2025 BEAMSTART. All Rights Reserved (Legal).