China’s largest ride sharing firm Didi Chuxing announced that it has acquired Brazilian ride sharing operator 99 to expand in Brazil, the second largest market for rival Uber. The move came as Didi continues to expand globally and is entering into new sectors such as bike sharing in order to justify its US$56 billion valuation. Following the acquisition of Uber China last year, Didi Chuxing unveiled its international division last February as part of its global expansion strategy. Last August, …

Didi Acquires Brazilian Ride Sharing Firm 99 To Compete In Uber’s Second-Largest Market appeared first on China Money Network.