Alibaba-backed Taxi App Kuaidi to Acquire The Fourth Largest Player. Convergence Begins?

Taxi app Kuaidi confirmed a previous rumor on Weibo that it would acquire Dahuangfeng, a Shanghai-based taxi app . It is reported that, at the same time, Alibaba, the existing investor of Kuaidi, will increase investment in the company.

Kuaidi has had more than 20 million user installs and 350,000 drivers on the service. It has covered 35 Chinese cities. Dahuangfeng was launched as lately as in April this year. It gained traction quickly for it offered drivers generous subsidies.

It’s the first merger after a wave of taxi apps emerged in China. It’s not a surprise Kuaidi turns out to be the first acquirer as it is venture backed by Alibaba.

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