advertisement
advertisement
advertisement

Lyft Is Partnering With Didi Kuaidi, Uber’s Biggest Competitor In China

Lyft Is Partnering With Didi Kuaidi, Uber’s Biggest Competitor In China

Less than a week after Chinese ride-hailing giant Didi Kuaidi first went public regarding their investment in Lyft, the two companies held a press conference announcing how much Didi invested (a staggering $100 million), their planned “two countries, one app” solution as well as mutual technological and financial cooperation. Didi Kuaidi has proven to be a formidable opponent for Uber, which has poured resources into China this year–including a $1 billion investment–and supposedly clocks a million rides per day in the country.

advertisement

According to Lyft cofounder and president John Zimmer, Didi Kuaidi customers will now be able to hail rides through Lyft’s app and vice versa, as part of a “easy, seamless way for their users and our users to get anywhere they want to travel.” The two companies share a common enemy in Uber; by teaming up, they could feasibly sideline Uber in the competitive Chinese market.

Zimmer added that the partnership will include “financial components, technological, and product components.”

Didi Kuaidi invested in Lyft when it participated in a funding round earlier this year, which included contributions from activist investor Carl Icahn and Chinese Internet giants Tencent and Alibaba.

Update: This article was updated to clarify the timing of Didi Kuaidi’s investment.

advertisement
advertisement