Didi seals strategic investment with 99, Brazil’s leading car-on-demand service provider
Deal hailed as key supporting role in 99’s financing, technology and operational knowledge, as it reshapes the competitive landscape in Latin America
Didi Chuxing is teaming up with a major shared-mobility provider in Brazil via a strategic partnership as the Chinese mobile-based personal transportation giant further extends its global reach.
Beijing-based Didi has made what it called a “strategic investment” in 99 (formerly 99Taxis), which is large enough to allow it a seat on the Brazil firm’s board of directors.
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In addition, Didi will provide strategic guidance and support, the companies said in a joint statement, including in the areas of technology, product development, operations and business planning, as 99 continues its expansion domestically and the broader Latin American market.
Didi inked strategic partnership deals last year with several ride-hailing majors, including Lyft in the United States, Ola in India and Southeast Asia’s GrabTaxi, as an effort to take on global car-on-demand service provider giant Uber Technologies.