Chinese ride-hailing giant Didi invests in Brazil
Didi Chuxing has invested in 99, its Brazilian counterpart. The deal is a sign that China's largest ride-hailing company is seriously exploring global expansion.
Didi has nearly 400 million users in over 400 Chinese cities. Last year, it acquired the Chinese operations of Uber.
99 provides app-based on-demand car and taxi hailing for more than 140,000 users in 550 cities across Brazil. It is market leader in Sao Paulo, Rio de Janeiro and other major cities in the country.
Didi will support 99 in technology and product development, operations and business planning. The aim is to help 99 expand, both in Brazil and elsewhere in Latin America.
| 10/01/2017 | Frank Jacobs