Didi accelerates globalization with investment in Brazilian Uber rival 99

Half a year after Didi and Uber struck a truce in the Chinese market, another land-grab between the two is looming, only this time the battle is for the global market.

Didi Chuxing announced on Wednesday that it has made a strategic investment in 99 (formerly 99Taxis), an Uber competitor in Brazil market. The company didn’t specify the investment size or number of shares involved in the deal.

Under the terms of the partnership, Didi will assume a seat on 99’s Board of Directors and will provide strategic guidance and support, including in the areas of technology, product development, operations and business planning, according to a company statement.

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