Four ride-sharing service providers are forging an alliance in a bid to counter Uber Technologies Inc.’s growing global presence.
Uber’s American rival Lyft Inc., China’s Didi Kuaidi, India’s Ola and Southeast Asia’s taxi-booking app GrabTaxi teamed up to offer users traveling overseas seamless access to rides using the same application they use at home. The group will begin introducing joint products in the first quarter of next year, according to a joint statement.
The cross-continent partnership could serve as a check on Uber, whose valuation reached $50 billion in its last private financing round. Chief Executive Officer Travis Kalanick has expanded his service’s global footprint offering users the same app on smartphones to hail rides. Didi Kuaidi has already invested in Lyft, GrabTaxi and Ola in recent months.
“The partnership with Lyft, GrabTaxi and Ola allows Chinese users unprecedented ease of international travel, and helps each of us improve our own services,” Cheng Wei, chief executive officer of Didi Kuaidi, said in the statement. “This is a win for the diversity and vitality of the global industry.”
The four companies said they will collaborate and use one another’s technology, local market knowledge and business resources.
This article was written by Siddharth Philip and Kyunghee Park from Bloomberg and was legally licensed through the NewsCred publisher network.