Didi Chuxing Acquires 99, Brazil’s Ride-Hailing Leader
Bringing DiDi’s world-leading transportation AI capabilities and operational experience to accelerate market growth and innovation in Latin America
[Beijing, January 4; São Paulo, January 3, 2018] Didi Chuxing, the world’s largest mobile transportation platform today announced it is acquiring 99, which operates Brazil’s leading ride-hailing business. The investment builds upon the deep existing partnership between DiDi and 99 to further accelerate market growth in Latin America and bring more transportation choices to the region’s citizens.
Brazil is the world’s fastest-growing mobile internet market. As a milestone transaction in the Brazilian technology space, the deal is a testimony to the growth momentum of the new mobility industry; as well as the region’s vast potential for innovation.
CHENG Wei, Founder and CEO of DiDi, said, “The success that founders and team of 99 have achieved in Brazil embody the very spirit of entrepreneurship and innovation in the LatAm region. Building on the deep trust between our two teams, this new level of integration will bring to the region more convenient, value-added mobility services.”
“Globalization is a top strategic priority for DiDi. With enhanced investments in AI capabilities and smart transportation solutions, we will continue to advance the transformation of global transportation and automotive industries through diversified international operations and partnerships,” said Cheng.
Peter Fernandez, CEO of 99, said, “We feel privileged to be now a single organization with an even stronger purpose: improve the transportation industry and massively impact the lives of billions of people worldwide. We are confident that being part of Didi Chuxing will vastly enhance our capability to expand our services throughout Brazil to bring critical value to users, drivers and cities.”
DiDi became a strategic investor in 99 in January 2017. Over the course of the year, 99 and DiDi teams collaborated closely in areas from technology, to product innovation, market development and operational management in Brazil.
Going forward, the two teams will continue their missions to serve the local communities through intelligent transportation technology, so as to provide riders with more convenient on-demand mobility services, drivers with new income opportunities, and cities with big data-driven smart transportation technologies.
The investment marks a significant next step of DiDi’s global strategy. DiDi has entered partnerships with seven major international players, in a network that serves over 1,000 cities and reaches over 60% of world population. The company continues to explore flexible options to bring its AI technology and smart transportation solutions to broader communities, and help to create a healthy global mobility ecosystem in a time of profound industry change.
About Didi Chuxing
Didi Chuxing is the world’s leading mobile transportation platform. The company offers a full range of app-based transportation options for over 450 million users, including Taxi, Express, Premier, Luxe, Hitch, Bus, Minibus, Designated Driving, Car Rental, Enterprise Solutions and Bike-Sharing. With its daily rides reaching up to 25 million, over 21 million drivers and car owners are generating flexible income on DiDi platform. DiDi acquired Uber China in August 2016.
DiDi leverages its big data-driven artificial intelligence capabilities to promote the transformation and upgrading of the taxi industry and bus industry and help cities develop smart transportation solutions. It develops intelligent driving projects and expand business in new energy vehicle industry, along with its acceleration of internationalization. DiDi has created investment and technology partnerships with seven international rideshare leaders, including Grab, Lyft, Ola, Uber, 99, Taxify and Careem. The global network reaches over 60% of the world’s population and covers over 1000 cities. DiDi is committed to working with communities and partners to solve the world’s transportation, environmental and employment challenges. By continuously improving the user experience and creating social value continuously, it strives to build an open, efficient, collaborative, and sustainable transportation ecosystem.
For more information, please visit http://www.didichuxing.com/en/
99 is a Brazilian urban mobility startup founded in 2012. The company connects more than 300,000 drivers to 14 million registered users in more than 400 cities across Brazil. As the country’s largest shared mobility provider, the startup offers app-based on-demand service in three categories: 99Pop, a private car service; 99Taxi, a taxi-hailing service covering the majority of the Brazilian market; and 99Top, the premium service of luxury taxis offered in São Paulo. http://www.website99.wpengine.com/