The on-demand ride provider reportedly now owns a 90% share of its Brazilian counterpart, whose investors also included Qualcomm and SoftBank.
China-headquartered ride hailing platform Didi Chuxing acquired a majority stake in Brazil-based counterpart and portfolio company 99 yesterday, with the New York Times reporting it paid $600m.
The NYT cited three people with knowledge of the transaction for the price. Two of them said Didi Chuxing had previously owned 30% of 99, having led a round in excess of $100m for the company a year ago.
Founded in 2012 and originally known as 99taxi, 99 runs an on-demand ride…
