Brazilians first heard of Didi Chuxing on January 4, 2017. The leading ridesharing company had invested over USD 100 million in the Brazilian app 99 – Uber’s biggest Brazilian competitor. In exchange for the money, Didi was able to name one member of the company’s board and provide “strategic guidance” to 99. Almost exactly one year later, Didi has now concluded the complete takeover of 99 with a deal reportedly worth USD 600 million.
The deal could have severe international implications. Latin America is set to be the next battleground between Uber and Didi, the industry’s biggest companies. Uber...
