Didi Kuaidi and Corporation Liu Qing

Grab Taxi Holdings Pte Ltd: Didi Kuaidi did not reveal details of its investment, but Grab Taxi confirmed in a statement it had secured total new funding worth more than $350 million from investors, including Didi Kuaidi, hedge fund Coatue Management LLC, and sovereign wealth fund China Investment Corporation, according to Xinhua China. Liu Qing, Didi Kuaidi president, said the investment would help the two companies learn from each other and make further developments in their respective businesses. "Didi Kuaidi can share its experience of providing multiple transportation services on an integrated platform, while Grab Taxi can help us understand users in Southeast Asia," said Liu. The Beijing-based company has invested in Grab Taxi Holdings Pte Ltd, a tech firm headquartered in Singapore that provides booking services in 26 cities in six countries. Analysts said taking equity stakes in overseas companies rather than building its own operation in other markets was a smart move by Didi Kuaidi to increase revenue. Didi Kuaidi has been aggressively expanding its platform since February by launching various transport solutions, including taxi-hailing, private car and ride-sharing, chauffeur and bus services. "It has a growing presence across the entire transportation service sector. Wang Xiaofeng, a tech analyst at Forrester Research Inc, said Didi Kuaidi is already the No 1 player in China online car-booking sector. "To maintain its high-speed growth momentum, it has to come with solutions to gain new markets," she said. (news.financializer.com). As reported in the news.