Booking Invests $500 Million into DiDi, Forging a Strategic Partnership
Didi Chuxing announced a strategic partnership on July 17 with Booking Holdings who will put an investment of $500 million into the Chinese mobile transportation platform.
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Under the partnership, brands under Booking Holdings, a leader in online accommodations and travel e-commerce, will have the ability to offer on-demand car services through their apps, powered by DiDi. DiDi customers will have the option to book hotels through Booking.com or Agoda.
The two companies aim to strengthen their local and international expertise in their respective fields through the blend of advantages and capacities in technology, transportation and service. Through the partnership, the two companies aspire to develop more customized travel solutions to build a more diversified travel ecosystem.
“We look forward to seamlessly connecting every segment of the journey and improving everyone’s traveling experience through more collaborative innovation with the Booking brands on product, technology and market development,” says Stephen Zhu, Vice President for Strategy of Didi Chuxing.
Todd Henrich, SVP and Head of Corporate Development for Booking Holdings, also expressed a positive outlook on their future cooperations.
Booking Holdings serves users and partners in more than 220 countries and territories through its major brands including Booking.com, agoda.com, KAYAK, Priceline.com, Rentacars.com and OpenTable. DiDi offers all app-based transportation services for over 550 million users, and continues to innovate in shared mobility and smart transportation across China, South America, Australia and Japan markets.