99 (app) explained

99 Tecnologia Ltda.
Type:Subsidiary
Location City:São Paulo
Location Country:Brazil
Key People:Tony Qiu, CEO
Industry:Vehicle for hire
Services:Taxicab, Vehicle for hire
Area Served:~500 Brazilian cities[1]
Parent:DiDi Chuxing
Products:99 POP, 99 Táxi, 99 Táxi TOP (limited), 99 Comfort, 99 Food

99, formerly known as 99Taxis, is a vehicle for hire company operating in Brazil. It is owned by DiDi.

History

Launched in 2012 servicing São Paulo, the company has expanded since then to other regions. It was founded by Paulo Veras, Renato Freitas and Ariel Lambrecht.[2]

In January 2017, 99 received funding by DiDi.[3] [4] The funding allowed 99 to open more positions, and deal with competitors.[5] In May 2017, another round of investments, led by SoftBank, raised US$100 million.[6] On January 3, 2018, DiDi purchased the remainder of 99[7] for an undisclosed amount, but rumored to be at US$600 million,[8] making 99 Brazil's first so-called "unicorn", i.e., a startup company valued at over US$1 billion.[9]

Notes and References

  1. Web site: Onde Estamos . pt . 18 August 2017 . live . https://web.archive.org/web/20170819021355/http://www.99taxis.com/ondestamos/ . 19 August 2017 .
  2. Web site: Apps de táxi são populares. Só falta darem dinheiro . 18 July 2013 . Guilherme Manechini . EXAME . 18 August 2017 . pt . live . https://web.archive.org/web/20170819021617/http://exame.abril.com.br/revista-exame/so-falta-dar-dinheiro-2/ . 19 August 2017 .
  3. Web site: Didi Chuxing Invests in Brazilian Uber Rival, Reignites Ridesharing War . 4 January 2017 . Forbes . 18 August 2017 . live . https://web.archive.org/web/20170819024637/https://www.forbes.com/sites/briansolomon/2017/01/04/didi-chuxing-invests-in-brazilian-uber-rival-reignites-ridesharing-war/#a017da728818 . 19 August 2017 .
  4. Web site: 99 recebe investimento de 320 milhões de reais liderado pela Didi . Gian Kojikovski . 4 January 2017 . EXAME . 18 August 2017 . pt . live . https://web.archive.org/web/20170819021943/http://exame.abril.com.br/negocios/99-recebe-investimento-de-320-milhoes-de-reais-da-didi-chuxing/ . 19 August 2017 .
  5. Web site: Após aporte de US$100 milhões, 99 vai dobrar de tamanho e contratar 250 . 18 January 2017 . Felipe Moreno . Starse . 18 August 2017 . dead . https://web.archive.org/web/20170819021319/https://conteudo.startse.com.br/mercado/felipe/apos-aporte-de-us-100-milhoes-99-vai-dobrar-de-tamanho-e-contratar-250/ . 19 August 2017 .
  6. Web site: SoftBank adds Brazil's 99 to its ridesharing portfolio with a $100 million investment . 24 May 2017 . Catherine Shu . TechCrunch . 18 August 2017 . live . https://web.archive.org/web/20170819022504/https://techcrunch.com/2017/05/24/softbank-adds-brazils-99-to-its-ridesharing-portfolio-with-a-100-million-investment/ . 19 August 2017 .
  7. Web site: Didi Chuxing Acquires 99, Brazil's Ride-Hailing Leader . 3 January 2018 . 99 . 4 January 2018 . live . https://web.archive.org/web/20180104064129/https://99app.com/news/didi-chuxing-acquires-99-brazils-ride-hailing-leader/ . 4 January 2018 .
  8. Web site: Didi Chuxing, China's Ride-Hailing Giant, Agrees to Buy Uber Rival in Brazil . 3 January 2018 . Vinod Sreeharsa and Mike Isaac . The New York Times . 4 January 2018 . live . https://web.archive.org/web/20180104000412/https://www.nytimes.com/2018/01/03/technology/didi-chuxing-99-brazil-ride-hailing.html . 4 January 2018 .
  9. Web site: Mari. Angelica. All you need to know about Brazil's first tech unicorn. 2020-12-02. ZDNet. en.

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