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Uber feels the heat in Brazil as major rival Didi buys taxi company 99

4 Jan 2018

 

According to reports in the New York Times , China's Didi Chuxing announced that it will be buying Brazil's taxi and Private hire car-hailing company, 99, in a move that will see them compete head-on with Uber for a market share in one of the industry's fastest growing regions.

The tangled web of investors and big game players within the ride-hailing market gets even more complex with companies such as Didi, Uber, and SoftBank all competing, yet building alliances with one another.

Didi acquired Uber's China assets after the Silicon Valley giants gave up in their bid to compete against the favoured national choice. Didi also bought a $1 billion stake in Uber itself. SoftBank just recently completed a huge investment in Uber, yet they also have investments in Didi and 99.

It seems as though all companies are shaking hands with the right, yet delivering blows with the left. Investors are spreading their cash waiting to see who comes out on top in different regions. Brazil is considered a major market in the industry and it's likely to see a huge step up in tactics to see who will reign supreme.

Let the games begin.  

 

 

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