Didi Kuaidi invests USD100m in Lyft

Lyft and Didi Kuaidi said that Didi Kuaidi has made a strategic investment of USD100 million in Lyft.

Additionally, the two companies have entered into a strategic partnership that will leverage each company´s technological strengths, product development expertise, rich local market knowledge and vast resources to bring seamless ridesharing to the US and China.

Didi Kuaidi´s investment came as part of a financing round led by Rakuten earlier this year that also included Carl Icahn, Alibaba and Tencent. With this investment, Didi Kuaidi has joined leading investors including Andreessen Horowitz, Coatue Management and others in supporting Lyft´s long-term growth.

Under the partnership, the two parties will launch in-depth collaboration between their technology and product development teams, to achieve synergies in product innovation and enhance user experiences. Adding to the combined power of their advanced algorithm systems and ride-matching capabilities, Lyft and Didi Kuaidi will also share local knowledge and other business-related resources to explore new models of cross-platform and cross-regional market development, with an aim to build a healthy, collaborative global ridesharing industry.

As part of the alliance, Lyft and Didi Kuaidi will launch cross-platform interoperability so their existing users can access local on-demand transportation services offered by the partner company from their native applications when they are traveling in the US and China. The number of visits between the two countries totaled more than 7.8 million[1] in 2014 and continues to experience double-digit growth. The global coverage partnership will improve users´ international travel experience and boost each partner´s global market impact.

Lyft was founded to reconnect people and communities through better transportation. Co-founded in June 2012, Lyft is a rideshare company available in 65 US cities.

Didi Kuaidi is a one-stop mobile transportation platform giving every passenger the chance to find the kind of journey they want for their commute.