Hangzhou Kuaizhi Technology, the developer of taxi booking app "Kuaidi Dache," has reportedly not only received investment from early-stage tech investment fund Ameba Capital's Li Zhiguo, but also received RMB 7-digit funding from Chinese e-commerce conglomerate Alibaba Group.
"Kuaidi Dache" currently has over 300,000 users, covering almost 30,000 taxi drivers, with nearly 20,000 daily transactions, and covering over 70% of Hangzhou's taxis. "Kuaidi Dache" is primarily concentrated in Hangzhou and Shanghai, and plans to launch in Beijing in the near future. Beijing has over 60,000 taxis. "Didi Dache" and "Yaoyao Zhaoche" are the main taxi booking apps in the Beijing market.
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.