Ola from India, Didi Kuaidi from China, Lyft from the US and GrabTaxi from Singapore (which have raised $7 billion collectively) have joined hands in a strategic alliance and will start rolling out products in the first quarter of 2016. Ola and GrabTaxi have joined the alliance initially started by Lyft and Didi Kuaidi in September and claims to cover 50% of the world’s population across Southeast Asia, India, China and the US.
This alliance is a follow up of reports from January this year when Ola was planning to tie with GrabTaxi to form a global taxi alliance to take on Uber. The alliance was driven by SoftBank Capital and San-Francisco-based Flywheel.
Sharing tech and knowledge: These 4 companies will collaborate to use each other’s technology, local market knowledge and business resources to offer international travelers rides using the same application native to their country. The companies will handle mapping, routing and payments for their respective countries.
Ola’s funding: Last month, Ola raised $500 million from SoftBank Group, DST Global and China’s Didi Kuaidi among other investors for growth related activities and mobility solutions. SoftBank had invested (pdf) $250 million in GrabTaxi in December 2014 and had also led a $210 million investment in Ola in October 2014.
Number of rides:
– Ola claims to have 350,000 registered vehicles (275,000 cabs and 75,000 auto rickshaws) on its platform, up from 250,000 in August, also when it was doing 750,000 rides daily, in 102 Indian cities. It also claimed to be clocking 1 million booking requests daily.
– Didi, according to the press statement, claims to do 7 million rides daily across 360 cities in China and has an 83% market share in private car transport.
– Lyft also claims to complete 7 million rides, albeit monthly, in 190 cities in the US.
– GrabTaxi claims 1.5 million bookings across 6 countries (Malaysia, Singapore, Indonesia, Philippines, Vietnam and Thailand) daily with options for taxis, bike taxis GrabBike, private cars GrabCar, carpooling GrabHitch and deliveries GrabExpress.
Meru Cabs-Taxis G7 alliance: In October, Meru Cabs partnered with France’s Taxis G7 to launch eCabs, a global alliance of radio taxi operators which would provide cab services to foreign travelers in India and to Indian travelers going abroad through a mobile app.
– Launched its ridesharing service UberPOOL in Bangalore.
– Received an injection of funds from Tata Opportunities Fund to expand its services and solutions in India.
– Raised around $1 billion in funding from Microsoft and Bennett, Coleman and Company Limited.
– Said it would invest $1 billion in India to improve operators, expand to other cities, develop new products and payment solutions and set up a better support network.