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The Booking Group, owner of the US hotel reservation giant Booking.com, is accelerating its international offensive. Already present in 220 countries, and also holding Priceline and Kayak, he announced Tuesday his intention to invest 500 million dollars in the Chinese Uber Didi Chuxing, in the framework of a global partnership.
At the end of the agreement, Didi will offer its customers booking of travel on Booking.com, while the latter will allow his customers to access the services of pbadenger vehicles with driver (VTC) of Didi. However, the two companies did not specify which markets they intended to join.
Expansion internationale
Didi is the largest platform in China, where it bought Uber's activities in 2016. However, its international expansion has been limited for the moment, despite some acquisitions and investments in Mexico and Latin America, as well as in Japan and Australia. The company raised $ 4 billion last December to finance its development outside China and invest in artificial intelligence. Didi, which controls 90% of the Chinese VTC market, claims a total of 550 million users, but remains mainly present in China.
Brand awareness
For its part, Booking, which presents itself as the number one global online reservation of overnight stays and earns $ 97 billion according to Reuters, is investing heavily to build brand awareness internationally and has partnered with Chinese companies, such as Ctrip.com reservations sites or Meituan Dianping
According to Reuters, Didi Chuxing is also planning to split its automotive services division, an operation that could earn him up to $ 1.5 billion before its possible IPO. of the group. Didi hopes to withdraw between 1 and 1.5 billion dollars and appealed to investors, including SoftBank, already present in the capital of the group. Didi currently values this subsidiary specializing in car rental and maintenance services between two and three billion dollars.
Didi is the subject of recurrent rumors of IPO. But the company, valued at $ 56 billion, has never confirmed this project.
E.C.
New York Office
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