Airbnb Inches Its Way Into China

When Uber retreated from China this summer, it seemed like a bellwether for US companies trying to push their way into the country. The world's most valuable venture-backed startup lost at least $2 billion in the world's most populous nation in two years, according to people familiar with the matter, trying to build market share with free rides. In the end it sold its China operations to local leader Didi Chuxing. Now, America's second-most-valuable startup is betting it can do better. Where Uber rushed in, Airbnb has taken its time building relationships with China's industry leaders and government officials.