Global Ride-sharing Partnership

A global ride-sharing partnership has been established in opposition to Uber. Lyft (US), Ola (India), Didi Kuaidi (China), and GrabTaxi (Southeast Asian Nations) have partnered up to exchange market information and collaborate technology. The companies will upgrade their application to allow customers to use each other’s services with any of their apps.

Currently, the sum of the individual estimated valuation of these four companies does not come close to the estimated valuation of Uber. On the other hand, Ola, Didi Kuaidi, and GrabTaxi have a significantly larger reach in the number of cities in their own region and investors such as Tiger Global, Softbank and Coatue Management have aggressively backed their service. The alliance has raised over $7 billion.

Ola operates in India, Didi Kuaidi operates in China, Grab Taxi operates in various Southeast Asian nations, and Lyft operates in the United States. The cross ride-sharing feature is set to start in the first quarter of 2016.

Source: Itika Sharma Punit http://qz.com/564795/a-new-anti-uber-alliance-strengthens-ola-lyft-didi-kuaidi-and-grabtaxi-agree-to-ride-together/