Tag "DidiChuxing"

Grab raises $700M in debt funding to expand its car rental program

By : CIOL Writers

Uber’s Southeast Asian rival Grab has raised up to $700 million in debt financing from unnamed global and regional banks, the company announced over the weekend. Grab, whose leasing programme helps in growing its driver network, said it would have the largest car

Didi Chuxing invests in Uber’s Middle East rival Careem

By : CIOL Writers

China’s largest ride sharing firm Didi Chuxing has invested an undisclosed amount in Dubai based ride hailing firm Careem. Careem, a Middle East rival to Uber, offers services to 12 million customers in 80 cities ranging from Pakistan to Turkey, Lebanon, Saudi

Grab raises $2B from China’s Didi and SoftBank to take on Uber

By : CIOL Writers

Earlier this month there were reports about Grab raising nearly $2 billion from China’s Didi Chuxing and SoftBank. The deal has finally happened. The Singapore-based company has secured $2 billion and is expecting to raise an additional $500 million from existing and

After China, Uber cedes Russian business to rival Yandex

By : CIOL Writers

Nearly a year after ceding its Chinese business to local player Didi Chuxing, Uber is ceding yet another market to the incumbent, this time in Russia. After three difficult years in Russia, Uber has decided to merge with Yandex, the Russian search

China’s Didi Chuxing to raise up to $6bn at a $50bn valuation

By : CIOL Writers

Chinese ride-hailing giant, Didi Chuxing is raising between $5 and $6 billion in a funding round that would value the company at around $50 billion, according to various reports. The fresh capital infusion is expected to come from investors including SoftBank

Uber’s AI labs head Gary Marcus leaves the position for an ‘advisor’ role

By : CIOL Writers

Maintaining the string of departures, Gary Marcus, the head of Uber’s artificial intelligence research arm, has decided to step down from his role and take up a more flexible role of ‘Special Advisor for AI’. Marcus confirmed his exodus in

Uber CEO Travis Kalanick on self-driving cars, Uber’s IPO plans and more

By : CIOL Writers

Uber is the world’s most valuable private company and one of the largest ride-hailing services in the world but that isn’t sufficient for Travis Kalanick, Uber’s CEO. Uber aims for much higher realms. Speaking at the annual Vanity Fair Summit

Uber makes Rs 200cr investment in Xchange Leasing

By : CIOL Writers

After investing Rs 43 crore in Mumbai-based car leasing service, Xchange Leasing between January and March, Uber has upped its investment in the car leasing company by a whopping Rs 200 crore between June and September, reports Livemint. The car

Now book an Uber with a Web-app

By : CIOL Writers

Uber isn’t leaving any stones unturned to beat local cab-hailing service Ola in India. Continuing its aggressive approach to target huge potential user base in the country, the US-based company has launched a dial-in feature of sorts for non-smartphone users

Aiming big in India, Uber plans to expand its team at Hyderabad CoE

By : CIOL Writers

Uber has settled off things in China by selling off its China entity to rival DidiChuxing. As expected, the ride-hailing aggregator is now all eyes on India. According to a Livemint report, the company is planning to hire 150 people

The after-effects of Uber and DidiChuxing merger

By : CIOL Writers

Uber is selling its Uber China arm to arch rival DidiChuxing in exchange for a 20 percent stake in the merged operation. But the deal has raised some unnerving questions from Didi’s old allies like Lyft, Grab, and Ola. The