Things are getting very interesting in the world of taxi hailing apps with the approved merger

By Chris DeAngelis | 3/20/15 11:00 PM

Things are getting very interesting in the world of taxi hailing apps with the approved merger of Didi (Tencent) and Kuaidi (Alibaba) which gives them 99% of the market. In January alone the two companies raised US$ 1.5 billion. However in a related move which was missed by the English press, Baidu backed Yidao, a rental car business, also raised nearly US$ 1.3 billion. This is noteworthy because Uber, who has partnered with Baidu, has been forbidden from working with Taxis so alternatively works with the rental car companies.

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