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Didi invests in India鈥檚 Ola to restrict Uber
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Chinese ride-hailing group Didi Kuaidi said yesterday that it has invested an undisclosed sum in Ola, India鈥檚 largest taxi-hailing app by market share, as it seeks a regional partner to curb US-based Uber.
The investment in Ola was made after Didi injected US$100 million in US ride-sharing service Lyft earlier this month, and jointly invested US$350 million in Malaysia-based Grabtaxi, another regional rival of Uber.
Some market observers said the investment in Ola was part of Didi鈥檚 global strategy to partner with Uber鈥檚 rivals to help the Chinese company further expand in other Asian markets.
鈥淭he investment signals our international strategy,鈥 Didi said in the announcement.
鈥淲e will support Ola鈥檚 continued expansion in India, and we believe both India and China are rapidly developing countries with enormous market potential,鈥 the company added.
Singapore鈥檚 sovereign wealth fund GIC, Falcon Edge, Tiger Global and Softbank were also involved in this round of funding, Didi said in a statement, without disclosing the investment amount.
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