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Beijing (AFP)- The tech giants Tencent and Alibaba backing up chine’s top taxi app with raise a minimum of 1.5 billion dollars reported by Bloomberg news on Monday. The company plans to take Uber in their growing system.
The budget amounts at 12 to 15 billion dollars and the money will be provided by new and old investors reported Bloomberg. The known private car booking business ruled by Uber and Chine’s taxi apps Kuaidi and Didi has shoot up in the country where conventional taxis are not approved for their rule behaviour and poor service. Uber takes over China and doubles the business by making over 1 million trips each day conferring to a leaked email. Uber is planning to contribute seven billion yuan during 2015 in China. Many cities are using this app to book taxis except during high traffic periods or forbidding drivers from using the vehicle outside safety zone. Booking apps have announced a taxi strike across Chine these days Xinhua agency stated.
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