San Francisco-based ridesharing startup Lyft has announced a partnership with Didi Kuaidi, the dominant ride-sharing app service in China. The partnership will go live early next year as mentioned by Didi Kuaidi’s President Jean Liu.
The partnership will allow Lyft to operate in China and Didi Kuaidi to operate in the United States. This deal also comes around the time when Didi Kuaidi is gearing up against its rival Uber, which recently raised an amount of $1.2 billion to penetrate into Chinese market.
Lyft users traveling in China will have access to the Didi Kuaidi app and Didi Kuaidi clients will have the option to use Lyft’s services in the U.S., as reported by Reuters. The deal will serve passengers travelling overseas and will also allow them to pay for the rides in their native currency.
Didi Kuaidi had invested an amount of $100 million in Lyft as part of a financing round which was led by Japan’s Rakuten earlier this year that also included participation from activist investor Carl Icahn, Alibaba Group and Tencent Holdings, as mentioned by Lyft Co-founder and President John Zimmer.
In May 2015, Lyft had raised an amount of $150 million from American businessman Carl Icahn’s Icahn Enterprises. Launched in 2012, the company has operations in 65 cities of America. Lyft believes, its USP is friendly drivers and easy ridesharing process.Category Business News