China’s Didi Kuaidi joined hands with Ola to compete Uber in India

Sep 29, 2015 16:02 IST

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.

Now get latest Current Affairs on mobile, Download # 1  Current Affairs App

Is this article important for exams ? Yes15 People Agreed
Read more Current Affairs on: Didi Kuaidi , Didi Dache , Kuaidi Dache , Ola , Uber , taxi-aggregator

DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

Latest Videos

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK