Uber threw in the towel at the killing ride-hailing wars in China, but that does not mean Uber is out, especially on a global level, says Andy Mok, managing Director at Red Pagoda Resources, especially on a global level, he tells Bloomberg. “They want to be the Cisco of the physical world.”
By shedding its losses in China, the move may clear Uber’s path to an eventual initial public offering. And as part of its deal, Kalanick joins Didi’s board — literally gaining a seat at the table as the effort to dominate the world’s largest ride-sharing arena unfolds.
So never count Uber out, at least on a global level, said Andy Mok, Managing Director at Red Pagoda Resources in Beijing.
“They want to be a Cisco of the physical world, the network that routes physical people and objects,” said Mok. “In a way, this frees up space for more technology development.”
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