Comment on GrabTaxi Raises $400M With Help From Didi Kuaidi Backer by Didi Chuxing ends US experiment, encourages users to download Lyft - TechNode

['Cate Cadell', 'More Cate Cadell', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] Comments for TechNode 2015-08-18 00:00:00

It’s not the first time that Didi Kuaidi and GrabTaxi have shared in the same investment family. At the end of last year SoftBank became GrabTaxi’s (then) largest investor, with a $250 million USD investment. SoftBank owns a 36.7% stake in Alibaba which in turn oversees half of the Didi Kuaidi partnership. Aside from CIC and SoftBank, GrabTaxi also received funding from Tiger Global Management and Vertex Venture Holding. The taxi-app market has shifted swiftly over the past six months from a battleground between former rivals Kuidi and Didi to a tense face-off between the Didi Kuaidi coalition and foreign entrant Uber.