DiDi is responsible for over 11 million rides a day on its platform, serving nearly 300 million users across over 400 Chinese cities.
Uber’s greatest rival has just received a huge $1bn worth of investment from technology colossus Apple.
This represents the largest single investment the Chinese hail riding service Didi Chuxing (DiDi) has ever received and it can now counts Apple as a strategic investor alongside Tencent, Alibaba and other key supporters to further realise its mission of building a data-driven rideshare platform to serve millions of Chinese drivers and passengers.
Reuters reported that Apple’s CEO Tim Cook says that this strategic investment will aid the company’s understanding of the Chinese market. It also reported that Cook is visiting China this month where Apple is trying to invigorate sales due to the fact that it has come under pressure from regulators. This investment by Apple adds to its service based innovations i.e Apple Pay and Apple Music at a time when iPhone sales have started to slow.
Didi founder and CEO Cheng Wei said, "The endorsement from Apple is an enormous encouragement and inspiration for our four-year-old company.
“DiDi will work hard with our drivers, riders and global partners, to make available to every citizen flexible and reliable mobility choices, and help cities solve transportation, environmental and employment challenges."
"DiDi exemplifies the innovation taking place in the iOS developer community in China," said Tim Cook, Apple’s CEO. "We are extremely impressed by the business they’ve built and their excellent leadership team, and we look forward to supporting them as they grow."
DiDi is responsible for over 11 million rides a day on its platform, serving nearly 300 million users across over 400 Chinese cities. The company collaborates with over 14 million Chinese car-owners and drivers and holds over 87% market share in private car hailing, and a whopping 99% market share in taxi hailing.