Uber Rival Lyft Teams With China's Top Ride-Hailing Service
- Didi Kuaidi invested $100 million in Lyft's funding round
- Apps to hail drivers in both countries ready next year
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Two of Uber Technology Inc.’s fiercest rivals are teaming up to challenge the ride-hailing company in the world’s largest markets.
Didi Kuaidi, the top car-sharing company in China, invested $100 million in Lyft Inc., No. 2 behind Uber in the U.S., as part of an already disclosed funding round that valued the San Francisco-based startup at $2.5 billion. The two companies will share technology and product development teams, they said during a presentation Wednesday in New York.