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Didi Chuxing Investor Breaks Down Apple's $1 Billion Investment

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Didi Chuxing Investor Breaks Down Apple's $1 Billion Investment

GGV Capital is an investment firm that has backed Didi Chuxing in the past. As of Friday, the car hailing service can also count Apple Inc. (NASDAQ: AAPL) as a financial backer and investor as well.

Speaking as a guest on CNBC's "Squawk Alley," GGV Capital's managing partner Hans Tung suggested that Apple is "killing multiple birds with one stone."

Related Link: Apple Just Invested $1 Billion In Uber's Biggest Rival

On the one hand, Apple is being a supporter of China's innovation system. On the other hand, the investment fits into Apple's research and investments it has placed thus far in cars. Tung noted that Didi Chuxing's platform oversees "millions and millions" of rides per day, which presents Apple with a valuable set of data.

Tung also pointed out that Chinese consumers have become accustomed to using mobile payments as of late, particularly to pay for Didi Chuxing's service. He added that Apple could use its new investment as a way of further penetrating the Chinese market with its Apple Pay service.

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