Marbridge Daily

<- July 09, 2013 ->

Rumor: Didi Dache, Kuaidi Dache to Form Equity Partnership

BiaNews, 7/09/13

Beijing-based Xiaoju Technology and Hangzhou-based Kuaizhi Technology, developers of mobile taxi-booking apps Didi Dache and Kuaidi Dache, respectively, are currently negotiating the formation of an equity partnership, according to recent media reports.

An industry source has confirmed that Xiaoju Technology has landed a new round of approximately USD 10 mln in funding from Chinese internet and mobile services firm Tencent (0700.HK). Kuaizhi Technology also recently received an investment from e-commerce conglomerate Alibaba Group.

Editor's Note: For more background on this topic, please see "Rumor: Alibaba's Kuaidi Dache Investment Totals USD 4 Mln" MD 6/27/13 issue and "Taxi Booking App Developer: No Investment from Tencent" MD 3/21/13 issue.

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