Daily News

View All News

Booking.com's parent company invests $500 million in ride-sharing firm Didi Chuxing

July 18, 2018

Booking Holdings invested $500 million in Beijing-based human cloud, ride-hailing firm Didi Chuxing, which Staffing Industry Analysts ranks as the second-largest B2C human cloud platform after Uber.

The deal was announced today and styled as a strategic partnership.

Booking Holdings is based in Norwalk, Conn., and its brands include Booking.com, Kayak, priceline.adoda.com, Rentalcars.com and OpenTable. The deal with Didi Chuxing will enable Booking Holdings to offer on-demand car service through their apps.

“We look forward to seamlessly connecting every segment of the journey and improving everyone’s traveling experience through more collaborative innovation with the Booking brands on product, technology and market development,” said Stephen Zhu, Didi Chuxing’s VP for strategy.

Didi Chuxing bought Uber’s China business in 2016, and earlier this year began operations in Mexico.

In addition, Didi Chuxing is also reported to be looking at an initial public offering, and Reuters reported that the company is planning to spin off its car rental and maintenance services business.