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December 4, 2015

Four Uber rivals gang up for ridesharing partnership

News: The partnership expands existing Lyft and Didi Kuaidi alliance.

By CBR Staff Writer

Lyft and Didi Kuaidi have expanded their global ridesharing partnership by bringing in Singapore-based GrabTaxi and India’s Ola.

All the four companies have collectively raised over $7bn. The joint partnership is expected to take on their rival Uber.

Under their partnership, the companies will allow international travelers access local on-demand rides by using the same application they use at home.

The companies will use each other’s technology, local market knowledge and business resources. They will handle mapping, routing and payments through a secure API,

The alliance will link four services in nine countries. Joint partner products will be rolled out in the first quarter of 2016.

Lyft co-founder and president John Zimmer said: "We’re excited to join with Didi, Grab and Ola to make global travel simpler for passengers.

"Together they will allow Lyft to offer the world’s best coverage, while building upon our shared vision of reconnecting communities through better transportation."

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Earlier this year, Didi Kuaidi invested in Ola, which is expected to give the Indian company a valuation of $5bn.

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