Apple gets board seat at Didi Chuxing following $1b investment

Apple pushes further into China with a board seat at the 'Uber of China'.
Written by Jake Smith, Contributor
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Apple has been granted a board seat at Didi Chuxing after its $1 billion investment in the China-based taxi hailing service earlier this year, according to a recent regulatory filing spotted by The Information.

Apple mergers and acquisitions chief Adrian Perica will represent the company on Didi Chuxing's board.

While Didi Chuxing said the $1 billion investment was its single largest, it wasn't previously clear if Apple would receive a seat at the "Uber of China".

Perica joined Didi's board with Stephen Zhu, Didi's head of strategy. The duo filled slots left vacant by Didi co-founder Wang Gang and Lu Chuanwei, former CEO of competitor Kuaidi Dache, which merged with Didi in 2015, reported The Information.

Apple CEO Tim Cook said in May that Apple's investment would help the firm better understand the local Chinese market. It's also been speculated Apple could form strategic partnerships with Didi Chuxing for its rumored car project.

Perica, a former banker at Goldman Sachs, handled Apple's acquisition of Beats, among other purchases.

Uber sold its China operations to Didi Chuxing in late July.

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