The greatest wealth creation vehicle in the internet sector in recent years, ride-sharing companies, is concentrated among relatively few investors. That means those investors could have an influence in pushing for further consolidation in the sector.
About 16 investors, including hedge fund Coatue Management and China Investment Corporation, a sovereign-wealth fund, have stakes in two or three of the ride-sharing firms scattered around the world. Partly that’s because they invested in multiple firms as soon as it became clear that the model forged by Uber in the U.S. could be replicated almost everywhere else.
