China’s largest taxi-hailing company, Didi Kuaidi Joint Co. on 28 September 2015 announced that it has invested in Ola to fight their common competitor, Uber Technologies Inc. However, the amount of investment was not disclosed by either of the companies.
For some time, Ola has been in talks with investors to raise over 500 million US dollars. The company even fetched an investment of 400 million US dollars from a clutch of investors led by DST Global in April 2015.
Didi’s investment in Ola will help the Indian taxi-aggregator to spread its roots in small cities, which will give it an upper hand over US-based Uber and home-grown Meru Cabs.
In February 2015, China’s two leading taxi-hailing apps, Didi Dache and Kuaidi Dache announced their merger to create one of the world's largest smartphone-based transport services company Didi Kuaidi.
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Who: Didi Kuaidi
When: 28 September 2015