AP Photo/Mark Schiefelbein

Here's why Uber sunk more than $2 billion into its Chinese operations (before selling to its competitor): China alone represents 67% of the global on-demand transportation market, including bikes and cars, according to Kleiner Perkins partner Mary Meeker's latest Internet Trends Report.

  • The data: Based on 2017's first quarter data estimates, China generated a total of about 2.5 billion on-demand rides, or roughly 10 billion rides on an annualized basis.
  • Why it matters: China's importance as a large market for on-demand transportation has been obvious for a long time. Along with Uber's massive investment in the region before selling its local operations to Didi Chuxing last summer, the latter recently raised a nearly $6 billion round, putting its value at about $50 billion. It also explains the recent investment boom into bike-sharing and on-demand bike ride companies in China.
  • Handy summary of the rest of the report.

Go deeper

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 19,451,097 — Total deaths: 722,835 — Total recoveries — 11,788,665Map.
  2. U.S.: Total confirmed cases as of 2. p.m. ET: 4,968,413 — Total deaths: 161,858 — Total recoveries: 1,623,870 — Total tests: 60,415,558Map.
  3. Public health: Fauci says chances are "not great" that COVID-19 vaccine will be 98% effective.
  4. Science: Indoor air is the next coronavirus frontline.
  5. Schools: How back-to-school is playing out in the South as coronavirus rages on — Princeton, Johns Hopkins, Howard to hold fall classes online.
2 hours ago - World

What's next for Lebanon after the Beirut explosion

Photo: Houssam Shbaro/Anadolu Agency via Getty Images

Beirut residents are still clearing rubble from streets that appear war-torn, days after a blast that shocked the country and horrified the world.

Why it matters: The explosion is likely to accelerate a painful cycle Lebanon was already living through — discontent, economic distress, and emigration.

Wolf Blitzer marks 15 years in "The Situation Room"

Wolf Blitzer on the White House beat in 1993, along with NBC's Brian Williams, CBS' Rita Braver and ABC's Brit Hume. Photo: Paul J. Richards/AFP via Getty Images H

Aug. 8, 2005 — "The Situation Room's" debut on CNN wherein the host first said: "I'm Wolf Blitzer and you're in The Situation Room, where news and information from around the world arrive in one place simultaneously!"

The state of play: When the pandemic took off in the U.S. in March, Blitzer started working 7 days a week for 60+ days, until he took a Sunday off. Then he continued 7 days a week until he took a few days off.