July 18 (NBD) -- Chinese ride-hailing giant Didi Chuxing has received 500 million U.S. dollars of investment from U.S.-based online travel service provider Booking Holdings Inc, in a boom for further global expansion.

According to the joint statement released on Tuesday, the two firms have formed a strategic partnership under which the two parties will combine technology capabilities and experience in a bid to provide comprehensive and personalized services for users around the world. The deal allows users to book Didi rides on the app of Booking Holdings and Agoda, and reversely make hotel reservations on the app of Didi. 

Known as the world's leading online travel company, Booking Holdings operate several travel fare aggregators including Booking.com, KAYAK, Priceline.com and Agoda.com, and has users and partners in more than 220 countries and regions. Its flagship Booking.com, which registers a daily order volume of over 1 million, is expected to lead a great flow to the ride-hailing app.

The new deal came as Didi makes inroads into a number of new markets outside mainland China by investing in other transportation companies including Lyft from the U.S., India's Ola, Middle East's Careem, Singapore's Grab and Italy-based Taxify. 

On January 3, the Chinese ride-sharing company announced its plan to acquire Brazil's 99 for 1 billion U.S. dollars after Didi's 100 million U.S. dollars investment a year ago. 

Besides, Didi launched the taxi service and hitching service in Taiwan through its authorized franchisee in January this year. Later in February, it partnered with Japanese conglomerate SoftBank Group Corp to roll out a joint venture in Japan, aiming to introduce taxi-haling service to the country.

Didi also entered into an agreement with German automotive manufacturer to conduct collaboration in the Internet of vehicle and new-energy vehicle field.

Founded in 2012, Didi now provides transportation services for more than 450 million users across over 400 cities in China. 

As the Chinese startup has grabbed more than 90 percent of the market share in China and it is seeking for market expansion to gain more users. The cooperation with Booking Holdings will help Didi to enhance the brand influence in the global market, said Zhao Xiang, analyst of market data provider Analysys. 

The new move is also consistent with Booking Holdings' strategy to offer new transportation service to customers. 

"Didi has clear advantages in technology and scale in the shared mobility industry," Todd Henrich, head of corporate development at Booking Holdings, said in the statement.

Apart from Didi, the U.S. company has invested in Ctrip.com International Ltd. and Meituan Dianping, both of which have started their ride-hailing business as well.

 

Email: zhanglingxiao@nbd.com.cn

 
Editor: Zhang Lingxiao