The on-demand ride service is reportedly in talks to buy a majority stake in Brazilian counterpart 99, a year after leading a $100m round for the company.
China-headquartered ride hailing service Didi Chuxing has entered discussions to acquire a majority stake in Brazil-based counterpart and portfolio company 99, The Information reported yesterday, citing a person familiar with the talks.
Initially known as 99Taxi, 99 runs an on-demand ride platform that has a share of the Brazilian market sized at about 20%, Didi Chuxing employees told The Information, though US-based Uber remains market leader in the country.
Didi Chxuing led a $100m+ round for 99 in January…
