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So what does the Uber-Didi deal actually mean? | Recode Daily: August 2, 2016

The China truce has far-reaching consequences.

Uber CEO Travis Kalanick onstage with Kara Swisher at the Code conference
Uber CEO Travis Kalanick onstage with Kara Swisher at the Code conference
Asa Mathat

.So what does the blockbuster Uber-Didi China deal mean for everyone else? For one thing, it means Didi now has more money invested in Uber than it does in its "global ride-hailing alliance" partners like Lyft, Ola and Grab, which could throw the partnership into jeopardy. For non-Chinese tech companies, the truce is a sign of the perils of entering China, and may guide them to put more resources toward India.
[Johana Bhuiyan | Recode]

.Salesforce acquired productivity software startup Quip; an SEC filing says Salesforce paid $582 million, but TechCrunch pegs the total cost of the deal at $750 million. Salesforce CEO Marc Benioff told Business Insider that the deal was largely done to nab Quip CEO Bret Taylor, an ex-Facebook executive who was recently added to Twitter's board.
[Ingrid Lunden | TechCrunch]

.Twitter comms chief Natalie Kerris, who crossed over to the social media service from Apple less than a year ago, is out. Twitter's low share price and continuing growth struggles has industry watchers (like Recode) wondering loudly when the company is going to sell.
[Kurt Wagner | Recode]

.Big banks and traditional financial services companies are continuing to invest serious resources in instant payments and other kinds of consumer services. What they're currently trying to figure out is how to lure customers away from competitors like Paypal-owned Venmo, and analysts think they have the upper hand.
[Michael Corkery and Nathaniel Popper | The New York Times]

.Last football season, daily fantasy sports services DraftKings and FanDuel spent hundreds of millions of dollars on advertising. After an expensive year of dealing with regulators over whether or not they qualify as gambling operations, the companies have significantly scaled back their marketing plans for this year.
[Alexandra Berzon | The Wall Street Journal]

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From Joseph O'Neill in the New Yorker, who was in attendance for Melania and Donald Trump's 2005 wedding: "We all headed off to the reception. Here was Simon Cowell, waving at the roaring, cordoned-off crowd of real people gathered on South Ocean Boulevard; over there, by the swimming pool, was Shaquille O’Neal; and hither and thither went Barbara Walters. I don’t recall seeing Senator Clinton and her husband, but they were definitely in the house. Paul Anka and Billy Joel I for sure laid eyes on."

This article originally appeared on Recode.net.

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