Kuaidi seeks US$600m in new funding
Print Edition
ALIBABA-INVESTED Kuaidi Taxi, one of China’s top two taxi booking apps, said yesterday it plans to raise US$600 million in a latest round of financing to upgrade technology and boost its share in the taxi and luxury car booking market.
The new investors include Softbank, Tiger Fund and Alibaba Group, whose initial public offering in the US raised a record US$25 billion in September, the world’s biggest IPO in 2014.
With the new investment, Alibaba-backed Kuaidi will intensify competition with arch rival Tencent-invested Didi Taxi.
Both Kuaidi and Didi have more than 90 percent share of the market due to strong investors and online coupons offered to passengers and rewards to drivers.
Both apps offer passengers 3-10 yuan (48 US cents to US$1.61) for each taxi trip if they choose to pay through Alibaba or Tencent’s payment tools.
“Kuaidi has changed the lifestyle of Chinese people. We are fully prepared to continue supporting Kuaidi,” Lu Zhaoxi, Alibaba’s chief executive, said in a statement.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
