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Softbank, others invest 70 billion yen in taxi hailing app

Kuaidi Dache will use funds to expand its services, market share

An advertisement of Kuaidi Dache is seen on the exterior of a building in Beijing. It is one of two local apps that together control around 90 per cent of the China online taxi hailing market.


JAPAN'S SoftBank Corp said it and other firms including Chinese e-commerce giant Alibaba Group Holding Ltd had invested about 70 billion yen (S$795 million) into Travice Inc, the operator of Chinese taxi hailing app Kuaidi Dache.

Alibaba already holds an undisclosed stake in