After two years of spending big to succeed in China, Uber has thrown in the towel and made a deal with rival Didi Chuxing. As a result, for a 20 percent stake, Uber China will become part of the larger Chinese company, which is valued at $35 billion. Prior to the deal, Didi was valued at $28 billion. Uber purportedly spent more than $2 billion in China. Meanwhile, Uber is using some of the $13.5 billion raised recently from investors to double-down on its global mapping project, with a $500 million investment. Continue reading Uber Inks Deal with Chinese Rival Didi, Focuses on Mapping