Didi Chuxing (formerly Didi Kuaidi), the dominant player in China's ridesharing market, agrees to buy Uber China

Didi Chuxing (formerly Didi Kuaidi), the dominant player in China's ridesharing market, agrees to buy Uber China, Uber's business in China. The Uber brand will be retained, but Didi would “integrate the managerial and technological experience and expertise of the two teams.” Uber reportedly lost $2 billion trying to make inroads in China.