Apple $1 Billion Bet
Apple announced Thursday that it had
invested $1 billion in Didi Chuxing, the leading ride-hailing service in China.
This is a surprise considering Apple usually reluctant to make big investments
in the past, with the last largest purchase, being Beats for $3 billion. It is
now obvious that Apple is very serious about transportation, with rumors of
Apple’s “open secret” car project. It is possible that Didi Chuxing could be Apple’s
first customers when and if Apple’s car come out.
With China being a critical market for Apple,
this huge investment might make it easier for Apple to expand into the country
that has recently ban iTunes Books. Apple is the
most successful American tech company in China, and the country has been
Apple's main engine of growth in the past few years. Last year, Apple pulled in
$59 billion in revenue from China.
Warren Buffett Is Bidding For Yahoo
Legendary billionaire
investor, Warren Buffett, and Quicken Loans founder Dan Gilbert are bidding for
Yahoo’s internet assets. Apparently Buffett is backing a group of investors in
the bidding war for Yahoo’s web assets. This is shocking considering the fact
that the famed Berkshire Hathaway’s Chairman usually opposes to investing in
companies that he doesn’t understand (i.e. technology companies). The only
company close to the Yahoo in his portfolio is IBM, which have seen a few bumpy
past years. Yahoo is currently in the second round of bidding for its core
assets.
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