|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Brazil (Click here for more)

China’s Ride-Sharing Giant DiDi Chuxing Acquires Brazil’s 99

BEIJING – DiDi Chuxing, the Chinese ride-sharing giant which provides transport services similar to Uber, announced on Thursday its decision to acquire Brazil’s major equivalent application 99, with the aim of accelerating market growth in Latin America.

The acquisition, the value of which was not reported, is part of the agreement both companies reached a year ago, when DiDi invested about $100 million in the Brazilian company in exchange for holding a position on its Board of Directors and offering support and strategic advice in some business areas.

Cheng Wei, founder and CEO of DiDi, said in a statement that the integration of his company and Brazil’s 99 will bring “more convenient, value-added mobility services” to Latin America, adding that the success of the Brazilian ride-hailing application embodies the spirit of entrepreneurship and innovation in the Latin American region.

Both companies will work on intelligent transport technology, offering passengers better mobility services, giving drivers new opportunities and allowing new transport technologies based on “big data” to be installed in cities, informed the Chinese company.

DiDi believes that Brazil is the fastest growing market in mobile internet usage and that this agreement is a testament to the moment of growth in the new mobility industry and the great potential the Latin American region has for innovation.

“Globalization is a top strategic priority for DiDi,” said Cheng, who also vowed to enhance the company’s investment in artificial intelligence capabilities and smart transportation solutions.

For his part, Peter Fernandez, CEO of 99, said that the two companies will now be a single organization with a stronger goal, which is to “improve the transportation industry and massively impact the lives of billions of people around worldwide.”

DiDi became a strategic partner of 99 in January 2017. Since then, both teams have worked together in various business areas such as technology, product innovation, operations and business planning.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2018 © All rights reserved