Didi announced it purchased 99, Brazil’s largest ride-sharing company.
Didi founder and chief executive Cheng Wei said internationalization is the core of Didi’s development strategy. Didi will continue to invest in implementing artificial intelligence and innovation in smart transportation. Through diversified overseas operations and cooperation, Didi will actively promote changes in the global transportation and automotive industry.
99 CEO Peter Fernandez said being part of Didi will significantly improve 99’s ability to expand its service in Brazil, and will bring core value to users, drivers and the city.
Founded in 2012, 99 is available in more than 400 cities in Brazil. It provides a platform for more than 300,000 drivers and 14 million registered users. In January 2017, Didi and 99 established a strategic investment partnership.
Didi said it established partnerships with seven global travel companies before acquiring 99, and it had provided service in more than 1,000 cities.