Chinese taxi app Kuaidadi gains traction with USD100 million investment and new acquisition

November 27
2:30 AM 2013

Taxi booking app Kuaidadi confirmed that it was a recipient of a USD100 million investment recently. The app also confirmed its acquisition of another mobile-based taxi booking service in China, which is Shanghai's Dahuangfeng. This was according to a report published by Tnooz.

Chinese e-commerce site Alibaba was reportedly the major investor of the round.  Other unnamed investors also participated in the latest round, said the report.

Alibaba was also said to have provided Kuaidadi with an online map, a payment tool, and other forms of support. Alibaba had previously invested USD10 million into the app. Alibaba's latest investment in Kuaidadi further strengthen's the e-commerce site's presence in the country, the report said.

Kuaidadi claims that the acquisition of Dahuangfeng would made it the largest taxi booking company in China. The company's competitors include Didi Dache and Yaoyao Zhaoche. French company Uber had recently launched its car booking service in China, the report noted.

Kuaidadi was formed in May 2012. At present, the company operates in over 20 cities in China, Tnooz said in its report.

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