Kuaidi Dache may share rides with Didi Dache

Feb 13, 2015 • Thierry Heles

Softbank and Alibaba-backed Kuaidi Dache and Tencent-backed Didi Dache are considering a merger, in a deal that would cover a 95% share of the ride-sharing market in China.

China-based ride-sharing companies Kuaidi Dache, backed by telecom company Softbank and e-commerce company Alibaba, and Didi Dache, backed by internet company Tencent, are considering a merger, Wall Street Journal reported yesterday.

Kuaidi Dache secured $600m in a January 2015 round led by Softbank subsidiary Softbank Internet and Media and featuring Alibaba as well as investment firm Tiger Global. The company previously received $100m in 2014 from Alibaba, Matrix Partners and New Horizons.

Didi Dache meanwhile closed a $700m series D…

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