Uber Brazil is facing fierce competition
In January 2017, soon after announcing a USD 100 million investment from China’s Didi Chuxing, ridesharing app 99 set up a stand on one of the corners of Antarctica Avenue, in São Paulo’s western zone. The idea was to approach drivers that arrived at a nearby building, where Uber Brazil has its headquarters, and lure them into joining 99 as well.
That episode exemplifies how the “blue ocean” Uber found in Brazil in 2014 – that is, an uncontested market space – has turned red. The competition exists, it has deep, deep pockets, and has become as aggressive as Uber itself.
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