Startup News

Didi Chuxing threatens Uber’s Latin America stronghold

LatAm ListDidi Chuxing, the Chinese ride hailing company, is rapidly increasing its share in the Latin America market, aggressively competing with the US transport app Uber.

Since the $1B acquisition of 99, the second largest ride-hailing company in Brazil, Didi Chuxing has expanded into many cities in Brazil, Mexico, Chile, and Colombia. In Mexico, Didi now holds 30% of market shares where Uber previously held 87%, according to a study from Dalia Research

The Latin American market represented only 2% growth for Uber, making Latin America its weakest market and revealing that the competition from other ride-hailing services is beginning to have an effect on the US-funded company. 

Globally, Didi registers over 1.1B trips through its taxi service, partnering with more than 700 taxi companies worldwide. Brazil accounts for more than 1 million daily trips on the app.

Both Uber and Didi are funded by SoftBank, a problematic conflict as SoftBank has pledged to invest in the budding tech market. China is not the only country to pose competition for US-funded companies, as the Colombian food-delivery startup Rappi is now challenging UberEats for customers as the Latin American startup ecosystem grows.

Read more on Latam Business Weekly.

Learn more about Didi Chuxing:

Didi acquires 99 for $1B to expand into Latin America

Didi Chuxing is ready to expand across Latin America

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

WP to LinkedIn Auto Publish Powered By : XYZScripts.com
%d bloggers like this: