When to be aggressive, when to be passive

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Now Play Uber launches car-hailing service, UberX Now Playing China’s Alibaba Group Holding Group, a unit of the state-run Chinese e-commerce giant Alibaba Group Corp., is planning to invest $1.5 billion in US tech company Uber and create at least one new business, The Wall Street Journal reports.

UberX will allow riders to hail cars from a virtual app and have a driver pick them up, while carpooling will remain an option.

Uber says it will be offering a $10 per-minute ride subsidy to all passengers, but it will not offer ride sharing until the company reaches its goal of 100,000 rides by 2019.

It’s unclear how many UberX rides will be in operation at any given time.

Uber said it will continue to expand its business in China.

“We are committed to driving innovation in the transportation space in China through the expansion of our fleet, investment in new products and services, and accelerating the launch of new services in China,” Uber said in a statement.

“In the coming months, we will launch more services and expand our business there.”

The Wall Journal reported that Alibaba Group is currently negotiating to acquire Uber.

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