The global alliance to stop Uber’s world domination has added a new player: OlaCabs.
Uber’s biggest Chinese rival, Didi Kuaidi, confirmed Sunday an investment in Ola, the Indian equivalent of the ride-hailing service.
This is the second time in a month rivals of Uber have banded together to curb the startup’s expansion plans.
While Uber has a strong foothold in the US, it’s locked in a fierce game of Risk as it continues to try to take on Asian countries.
Uber’s three most popular cities are all in China, but leaked financial documents indicate that the company is spending a lot more money than it is recouping on each ride.
However, the same is true for Didi Kuaidi. In a pitch deck seen by Business Insider, only half of all rides requested on the Didi Kuaidi app are actually completed.
In August, Didi Kuaidi announced that it had invested in Lyft during a $US100M Series E round of funding, and the duo announced a partnership between the two companies. Lyft users can open the app in China and hail a Didi Kuaidi vehicle, and vice versa.
Didi’s newest investment in Ola hints to a future partnership between the two companies, at least if they are following the same playbook as they did with Lyft. The Wall Street Journal also reported that Singapore’s GrabTaxi may be a future target for investment or partnership with the international alliance of ride-hailing companies.
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