Note from Editors:
Didi Kuaidi, Uber’s no.1 rival in China recently raised $3billion venture capital so as to aggressively compete with Uber. In 311 cities in 58 countries, Uber has 3 of its topmost popular cities in China. Uber plans to operate in more than 100 cities of China by next year. Will Didi Kuadi succeed?
by Maya Kosoff
Didi Kuaidi, Uber’s No. 1 rival in China, just raised $3 billion in venture capital funding, the company announced Wednesday.
Didi Kuaidi was created in February, when competing #apps Didi Dache and Kuaidi Dache merged to cut the costs of competing with each other — and more importantly, with Uber.
Months later, the taxi-app company raised a $1.5 billion investment at twice the valuation it had at the time of the merger.
Now the company has closed a round of funding at $1 billion more than its initial target. Didi Kuaidi says it gives 3 million rides a day in the country across 80 cities.
In addition to its taxi service, Didi Kuaidi seems to be taking some tips from companies like Uber and Lyft by expanding its offerings. It launched Hitch, a carpooling service, this summer. To date, the company says Hitch is available in 338 cities, with 3.1 million drivers and 7 million users.
Didi Kuaidi also launched premium bus services in two cities, Beijing and Shenzhen — not unlike Uber’s idea of “smart routes” and “perpetual trips.” In this scenario, a driver, Uber CEO Travis Kalanick said at the Digital-Life-Design conference last fall, “picks one passenger up, picks another passenger up, drops off the first passenger, but then picks up passenger number three and drops off passenger number two.” Think of it like a smart, premium bus system.
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Note: Featured Image credit to pixabay.com