Marbridge Daily

<- March 22, 2013 ->

Taxi Booking App Developer: No Investment from Tencent

DoNews, 3/21/13

An industry source revealed today that Tencent (0700.HK) plans to make a strategic investment in Didi Dache, a mobile app for taxi booking developed by Beijing-based Xiaoju Technology, in order to incorporate its services into Tencent's WeChat (Weixin) mobile messaging application. Didi Dache VP Zhang Bo denied rumors that the company had received investment from Tencent, but confirmed that the company is in contact with investors and will not rule out potential partnerships.

Didi Dache launched on September 9, 2012, and currently offers service in Beijing, Shanghai, Guangzhou, and Shenzhen. According to official figures from Didi Dache, the service processes more than 10,000 calls per day and covers more than 30,000 cabs through its partnership with the Beijing Taxi Dispatch Center's 96106 hotline, through which it has served more than 500,000 passengers in Beijing alone.

Another taxi dispatch app, Yaoyao Zhaoche, received an eight-figure USD sum in second-round funding in early March.

Editor's Note: For more background on this topic, please see "Taxi Booking App to Secure USD 8-Digit Series B Funding" MD 3/06/13 issue.

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