Didi Chuxing has agreed to make a strategic investment in Brazil's largest local shared mobility firm 99, formerly known as 99Taxis, as the Chinese ride sharing giant expands its footprint to South America.
No financial details were announced, but Didi Chuxing will be able to appoint one director to 99's board.
In addition, DiDi will provide strategic guidance and support, including in the areas of technology, product development, operations and business planning, as 99 continues its active expansion across Brazil and the broader Latin American market.
Founded by young Brazilian entrepreneurs in 2012, 99 offers app-based on-demand private car and taxi-hailing services across 550 cities in Brazil, the world’s second fastest-growing internet market...
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