Uber clone Didi Kuaidi is in the news again. Tech Crunch went live less than three hours ago with a story that potentially has legs as long as Uber. The quirky start-up gazer claims the biggest people movers in the world’s two largest countries are joining hands, to profit from the emerging car services market. Tech Crunch believes Didi Kuaidi just slipped $30 million US into Ola’s pocket, its counterpart in India.
Ola on a Major Funding Campaign
This amount is hardly a major fry-up for Ola, although it may have eyes on Didi Kuaidi experience too. The popular Mumbai start-up founded four years ago is hunting down over $500 million US to bolster its brand already settled in 85 cities with 80% of the market claimed. The Chinese investment is best seen as part of Didi Kuaidi’s strategy to nip at Uber’s heels each time the American giant appears in its sights.
Didi Kuaidi and the Kuaidi Dache Connection
When Didi Kuaidi merged with the second largest Chinese taxi app Kuaidi Dache in February 2015 it created one of the world’s largest smartphone-based transport service companies, worth around $6 billion US. While still punching above its weight compared to Uber, it could deliver a knockout blow in China and India by understanding secrets of the market better.
“Didi Kuaidi believes both India and China are rapidly developing countries with enormous market potentials,” a spokesperson said when announcing the investment. We look to “engage local industry champions like Ola to share technology and best practices in product development and operational expertise – all honed from deep market data-driven operations.”
Didi Kuaidi Future Seems Upbeat
The company claims 200 million Chinese customers taking 7 million rides a day, 99% of the taxi hailing market and 82% of private car hailing. With saturation looming, international expansion into India was the obvious next step, and Didi Kuaidi just made the leap. Is it time to say ‘move over uber’ yet?