Lyft Gets A $100M Stamp of Approval From China’s Largest Ride-Hailing Startup

Lyft, the San Francisco-based ride-hailing company with a pink mustache, has announced a partnership with China’s largest player in the industry, Didi Kuaidi. It comes at a time when Didi’s presence in the market is intensifying, and mutual rival Uber attempts to gain traction.

Didi Kuaidi has confirmed that it contributed $100 million USD to Lyft’s latest $530 million USD round in May. The North American startup is now valued at 2.5 Billion USD.

It’s a very advantageous partnership for Lyft, who have now entered the biggest ride-hailing funding family in Asia. Didi Kuaidi recently landed a $3 billion USD funding round from a variety of high-profile investors. They also have received funding in the past from China’s sovereign wealth fund, CIC, which is widely seen as a tick of approval from the Chinese government.

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