China’s Didi Chuxing is already well known for making investments, however this time across the ride-sharing corporate has stepped past backing firms in its core trade with its newest deal.
That’s as a result of Didi has subsidized China-based automotive trading platform RenRenChe by means of a strategic funding this is showed at $200 million.
Didi is valued at over $50 billion and its on-demand automotive empire stretches past China, the place it stays in the method of shopping for Uber’s native industry.
The company has hyperlinks in Europe, South America, India, Southeast Asia, the U.S. and the Middle East because of investments in the likes of Taxify, 99, Ola, Grab, Lyft and Careem. With the RenRenChe deal, Uber is including peer-to-peer trading to its stack of products and services in China, which spans elementary taxi products and services, buses, take a look at using, dock-less motorcycles and extra.
Three-year-old RenRenChe is a categorised web site that permits automotive homeowners to promote without delay to different customers. It covers over 80 Chinese towns, and it claims 100,000 automotive listings.
As a part of the deal, Didi mentioned it’s going to glance to combine RenRenChe’s provider into its apps, whilst it’s going to give a contribution to serving to with R&D and technical construction. A spokesperson showed that there’s no plan to take the mixing out of the country with Didi’s international companions, then again.