Published On: Thu, Sep 17th, 2015

Uber’s Chinese Rival Didi Kuaidi Funds Uber’s U.S. Rival Lyft

L-R logan-green-john-zimmer- lyft courtesy

 

Uber may have met its match in its Chinese rival, Didi Kuaidi. In Didi’s latest move, the Asian ride-hailing service invested an undisclosed sum in Uber’s American rival, Lyft , co-found by logan green and john-zimmer,  as first reported by the Wall Street Journal. Didi’s own investors, Chinese media conglomerate Tencent and e-commerce company Alibaba, also joined the round.

The investment follows closely behind Didi’s backing of Uber’s Singapore competitor GrabTaxi in August.

Didi is trying to slow Uber down by fueling its competitors. If Uber is forced to pay more attention or plow more money into other places, that’s less it can spend fighting Didi in China.

Read the full story at Re/Code by Carmel DeAmicis

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