China’s DiDi to back small Uber rival Taxify in Europe, Africa
HONG KONG/FRANKFURT (Reuters) – Chinese ride-hailing company DiDi Chuxing is investing an undisclosed amount in Estonian online taxi firm Taxify to help it expand in Europe and Africa, where it has gained share in some cities against U.S. player Uber [UBER.UL]. DiDi Chuxing will invest in and collaborate with Taxify to support the latter’s further expansion across its regional markets, the two companies said in a joint statement on Tuesday. DiDi and other increasingly well-funded competitors in the ride-sharing business are seeking to grab share from Uber in regional markets around the globe, seeking to capitalize on the San Francisco-based firm’s recent, highly publicized woes.
Source:: https://finance.yahoo.com/news/didi-chuxing-announces-tie-ubers-074256367.html
