China's Didi teams with for $500mn investment

July 17, 2018
Didi has fought off upstart rivals at home while waging an aggressive battle for market share with Uber overseas

Chinese ride-sharing giant Didi Chuxing landed a $500 million investment from Booking Holdings, owner of and similar sites, in a tie-up that will see the companies offer their services on each other's platforms, they said Tuesday.

The deal comes as Didi—China's version of Uber—fights off upstart rivals at home while taking on Uber overseas.

The partnership will allow users of Booking's online travel brands—including Kayak, Priceline, and Agoda—to hail cars while Didi customers will be able to book hotel stays and other services through those platforms.

"We believe that together we can offer smarter transportation services to our brands' customers," said Todd Henrich, head of corporate development for Booking Holdings.

Chinese food delivery giant Meituan Dianping, as well as a new partnership made up of the country's three largest state-owned automakers, have announced plans to expand into the domestic ride-hailing market, presaging a possible turf war with Didi.

Didi's last battle for China left both it and Uber badly bruised and only ended when Uber sold its China operations to Didi in 2016 in return for a stake in its business.

But the two ride-sharing giants remain fierce competitors in a growing list of markets around the globe.

Last month Didi—one of Asia's most valuable start-ups—entered Australia following similar moves into Japan and Brazil.

Meanwhile, Uber has retreated from Southeast Asia, selling its business in the region in March to Singapore-based rival Grab.

Explore further: China's Didi steps up challenge to Uber with Australia push

Related Stories

Chinese regulators reviewing Uber-Didi merger

September 2, 2016

Chinese anti-monopoly regulators are reviewing the proposed merger of ride-hailing service Uber Technology Ltd.'s Chinese operations with its biggest local competitor.

China taxi app Didi gets $1 billion from Apple

May 13, 2016

Apple will invest $1 billion in Chinese ride hailing app Didi Chuxing, the Beijing company said on Friday as it vies with bitter US-based rival Uber for market share in China.

Recommended for you

Semimetals are high conductors

March 18, 2019

Researchers in China and at UC Davis have measured high conductivity in very thin layers of niobium arsenide, a type of material called a Weyl semimetal. The material has about three times the conductivity of copper at room ...


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.