Technology developments have given rise to new solutions for urban transportation. Taxi apps gained popularity quickly in Chinese market this year, attracting sizable investments from leading venture capitalists and Internet companies.

The leading ones include Beijing-based Didi Dache, Hangzhou-based Kuaidi Dache, Beijing-based YaoyaoZhaoche, and Shanghai-based Dahuangfeng. DidiDache received $15 million of funding from Tencent at valuation of $60 million and reportedly to raise $100 million round from investors such as Citic and Tencent. Kuaidi Dache secured several millions of US dollars from e-commerce giant Alibaba.

In order to gain bigger market share, taxi app companies invested heavily to attract passengers and taxi drivers by distributing cash bonus, mobile data plan, mobile chargers, etc. As of September this year, Didi Dache, Kuaidi Dache and Dahuangfeng have invested tens of millions of yuan on aggregate and the annual investment is expected to reach hundreds of millions of yuan (via Sina).

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.