14 Feb '15, 2pm

Confirmed: China’s #TOP 2 taxi apps merge to #take on Uber

Confirmed: China’s #TOP 2 taxi apps merge to #take on Uber

Rumors swirled around yesterday of the merger between Kuaidi Dache and Didi Dache , the top two taxi apps in China. The news was confirmed officially today via a press release on Kuaidi Dache’s Weibo account . Financial details were not disclosed. The chief executives of both companies, Chuanwei Lu of Kuaidi and Wei Cheng of Didi, will become co-CEOs of the merged entity. Both teams and their branding will remain separate, but they will combine resources and talent to build a better platform for the transportation industry, says the announcement. Didi Dache, apparently the leading taxi app in China, trails only Uber in the space in terms of fundraising after it received an investment of US0 million in a round led by Singapore sovereign wealth fund Temasek , along with DST Global. Chinese web giant Tencent also joined. Both apps are dominant in China, holding nearly 100 per...

Full article: http://svca.org.sg/confirmed-chinas-top-2-taxi-apps-merge...

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