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Didi invests in Brazilian transport app 99

Thursday 5 January 2017 | 16:07 CET | News
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China's largest urban transport app Didi Chuxing is leading a group that will invest over USD 100 million in Brazilian urban transport app 99, reports Reuters. Under the terms of the agreement, Didi will be entitled to a seat on the board of 99, a company that claims to operate in more than 350 cities in the country. In return, Didi will provide "strategic guidance and support". The two sides did not disclose the exact amount of the investment, the stake the group is acquiring in 99 or the identity of the other investors. Apple is among Didi's shareholders.

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Categories: Mobile & Wireless
Countries: Brazil
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