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EMEA – Didi Chuxing invests in Taxify (CNBC)

07 August 2017

Chinese ride-sharing firm Did Chuxing has announced that it will invest and collaborate with Estonia-based Uber rival Taxify to help the firm expand further to Europe and Africa, reports CNBC. The collaboration will help Taxify extend its reach across a range of markets from Hungary and Romania, to South Africa, Nigeria and Kenya. The amount was not disclosed. The investment marks the latest move to edge Uber out of international markets. Uber sold its Chinese subsidiary to Didi last year. Meanwhile in Southeast Asia, Uber rival Grab recently scored a USD 2 billion investment from Didi and Softbank. Companies such as Taxify and Didi are considered human cloud companies. For more on the human cloud and the gig economy landscape, click here.