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Chinese ride-hailing company Didi Chuxing said that it has acquired 99 in Brazil, confirming recent reports. Didi invested in 99 last year, and the companies share SoftBank as an investor.

Why it matters: Didi is now back to competing with Uber, this time in Brazil. The two ended their expensive rivalry in 2016 after Uber sold its Chinese operations to Didi, in exchange for an ownership stake.

Didi Chuxing president Jean Liu said later that year that her company plans "play a global game" and that it believes in "local players," hinting that more partnerships, investments, and acquisitions are in its future.

China's Didi Chuxing acquires Brazilian ride-hailing company 99

And with this, it's back to competing with old rival Uber. 

Technology

Business

Chinese ride-hailing company Didi Chuxing said that it has acquired 99 in Brazil, confirming recent reports. Didi invested in 99 <a class="gtmContentClick" data-vars-link-text="last year" data-vars-click-url="https://www.axios.com/awkward-uber-backer-invests-in-their-direct-competitor-1513299904-8733f1b4-4878-461b-82aa-01121fb355ac.html" data-vars-content-id="ce34db72-a9fe-43e9-b420-0debc3dc323f" data-vars-headline="China&#x27;s Didi Chuxing acquires Brazilian ride-hailing company 99" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/awkward-uber-backer-invests-in-their-direct-competitor-1513299904-8733f1b4-4878-461b-82aa-01121fb355ac.html" target="_self">last year</a>, and the companies share SoftBank <a class="gtmContentClick" data-vars-link-text="as an investor" data-vars-click-url="https://www.axios.com/softbank-pours-100-million-into-ubers-main-latin-american-rival-1513302561-ba712039-edaf-4d4f-9cf4-3666f8478ef1.html" data-vars-content-id="ce34db72-a9fe-43e9-b420-0debc3dc323f" data-vars-headline="China&#x27;s Didi Chuxing acquires Brazilian ride-hailing company 99" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/softbank-pours-100-million-into-ubers-main-latin-american-rival-1513302561-ba712039-edaf-4d4f-9cf4-3666f8478ef1.html" target="_self">as an investor</a>.Why it matters: Didi is now back to competing with Uber, this time in Brazil. The two ended their expensive rivalry in 2016 after Uber sold its Chinese operations to Didi, in exchange for an ownership stake.

From the Valley to D.C., Big Tech players like Facebook, Google and Amazon are under more scrutiny than ever as new technology develops and privacy and antitrust concerns grow in lockstep with companies’ ambitions.

China's Didi Chuxing acquires Brazilian ride-hailing company 99

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