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Didi Chuxing confirms it’s buying Brazilian ride-hailing startup 99

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Rickey Cameron
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Chinese e-taxi giant Didi Chuxing has confirmed earlier reports that it’s acquiring leading Brazilian ride-hailing company 99.

Terms of the deal were not disclosed.

The deal comes just weeks after Didi Chuxing announced a hefty $4 billion raise, taking its total funding to nearly $20 billion.

São Paulo-based 99, which was founded in 2013, has raised around $240 million in funding with notable backers including Qualcomm, SoftBank, and none other than Didi Chuxing itself, which led its $100 million series C round last January.

Didi Chuxing was born of a merger between local rivals Didi Dache and Kuaidi Dache in 2015.

Similar to Uber, Didi Chuxing offers smartphone-based car services, such as carpooling, taxis, and premium cars with drivers.

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