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Didi Chuxing invests in Taxify

Commentary

In an effort to dominate the global ride-sharing market, Didi Chuxing, the company that defeated Uber in China, has been expanding its reach and influence worldwide by investing in Uber’s rivals all across the globe. Last week, the company invested an undisclosed amount in Taxify, the Estonia-based ride-sharing startup that operates in 18 countries across Europe and Africa. Although Taxify has traditionally focused its operations in emerging markets, it is planning to expand to London later this year. This deal comes a week after Didi, along with SoftBank, invested $2 billion into Grab, Uber’s biggest competitor in Southeast Asia. Didi has also invested in other international ride-sharing companies including Lyft in the US, Ola in India, 99 in Latin America, and Careem in the Middle East.