Dida eyes Uber alliance on carpooling
Print Edition
AN early investor in Chinese carpooling app Dida Pinche said he has held talks with United States ride-hailing app Uber Technologies Inc to help Dida expand in a market 99 percent controlled by Didi Dache and Kuaidi Dache.
Andy Zhang, chief financial officer of Dida investor Bitauto Holdings Ltd, said he has met Uber Chief Executive Officer Travis Kalanick in Beijing to discuss possible investment or tie-ups.
A spokeswoman for Uber declined to comment.
Investing in Dida could give Uber a second avenue into a rapidly growing Chinese mainland market for mobile ride-hailing services. A tie-up would also help it dent the near monopoly of Didi and Kuaidi, which last month announced a US$6 billion merger.
Ride-sharing apps have had a troubled start to life, with regulators in Beijing and other cities across the world banning apps that earn revenue from drivers who do not hold commercial licenses. That has not stopped them drawing huge investment from Internet giants such as Tencent and Alibaba.
Dida does not collect revenue — unlike Didi, Kuaidi and Uber — though it aims to monetize its app eventually. At present, it matches drivers and passengers who contribute toward fuel and parking, for instance, making costs roughly half that of a taxi.
Dida CEO George Song declined to comment on potential partners, but said Dida is seeking a third round of investment. It raised US$10 million in its first round and earlier this year closed a second, led by car sales platform Bitauto.
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