Tuesday Digestif (31/2016): Uber acquired by Chinese company Didi ๐Ÿš—๐ŸŽŠ๐Ÿš™๐Ÿ˜ฎ

Tuesday Digestif: Weekly Perengo Newsletter on Labor Policy & HR Management

Hello,

today:

  • Uber China acquired by Didi
  • Google’s Head of HR leaving the company
  • Startups who give days off for their employee’s to vote at the U.S. Presidential Election

Cover Story – Uber China Acquired by Rival Didi

On-demand giant Uber is selling its Chinese operations to the biggest competitor: Didi

Summary:

  • The combined worth of the merged company is $35bn
  • Uber will retain a 20% stake in the new entity
  • Didi invests $1bn in Uber’s global business

This move does not come as a surprise. Uber had been struggling to fight against Didi’s 80% market share.

Some compare it to Yahoo’s ownership stake in the Chinese e-commerce company Alibaba and expect Uber’s stake to strongly gain in value.

In Deal With Didi, Uber Frees Itself to Expand in Other Market [image source: CNN Money]
In Deal With Didi, Uber Frees Itself to Expand in Other Market [image source: CNN Money]

This Week’s Finest – Revisit Your Dictionary

Scrap These Phrases Right Now (URL) – What not to say:

  • Let’s put our heads together
  • Take it to the next level
  • Hit the ground / Get the ball rolling
  • Think outside the box

Mr. Google HR Stepped Down (URL) – Laszlo Bock is leaving Google after 10 years as its head of HR.

He will remain in an advisor role and will be replaced by Eileen Naughton (VP Sales, UK).


Worth Reading – HR Decisions in Startups

Time to Vote (URL) – Tech startups are giving a day off and want to encourage their employees to vote at the U.S. presidential election.

Diversity at Twitter (URL) – Twitter has publicly set diversity goals for itself in 2016.

Jeffrey Siminoff (Head of Diversity & Inclusion) wants to start at the top. Executives first.


Please let us know what you liked, what you disliked and which topics you would love to see in the future.

Drop us a mail: hello@perengo.com

Have a great week,
Team Perengo

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