99 (app)

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99 Tecnologia Ltda.
Subsidiary
IndustryTransportation network company
Founded2012; 8 years ago (2012)
Headquarters,
Brazil
Area served
~300 Brazilian cities[1]
Key people
Tony Qiu, CEO
ServicesTaxicab, Vehicle for hire
ParentDiDi
Website99app.com

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

History[edit]

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][3]

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

References[edit]

  1. ^ "Onde Estamos" (in Portuguese). Archived from the original on 19 August 2017. Retrieved 18 August 2017.
  2. ^ "99 - CrunchBase". Archived from the original on 6 September 2017. Retrieved 18 August 2017.
  3. ^ Guilherme Manechini (18 July 2013). "Apps de táxi são populares. Só falta darem dinheiro" (in Portuguese). EXAME. Archived from the original on 19 August 2017. Retrieved 18 August 2017.
  4. ^ "Didi Chuxing Invests in Brazilian Uber Rival, Reignites Ridesharing War". Forbes. 4 January 2017. Archived from the original on 19 August 2017. Retrieved 18 August 2017.
  5. ^ Gian Kojikovski (4 January 2017). "99 recebe investimento de 320 milhões de reais liderado pela Didi" (in Portuguese). EXAME. Archived from the original on 19 August 2017. Retrieved 18 August 2017.
  6. ^ Felipe Moreno (18 January 2017). "Após aporte de US$100 milhões, 99 vai dobrar de tamanho e contratar 250". Starse. Archived from the original on 19 August 2017. Retrieved 18 August 2017.
  7. ^ Catherine Shu (24 May 2017). "SoftBank adds Brazil's 99 to its ridesharing portfolio with a $100 million investment". TechCrunch. Archived from the original on 19 August 2017. Retrieved 18 August 2017.
  8. ^ "Didi Chuxing Acquires 99, Brazil's Ride-Hailing Leader". 99. 3 January 2018. Archived from the original on 4 January 2018. Retrieved 4 January 2018.
  9. ^ Vinod Sreeharsa and Mike Isaac (3 January 2018). "Didi Chuxing, China's Ride-Hailing Giant, Agrees to Buy Uber Rival in Brazil". The New York Times. Archived from the original on 4 January 2018. Retrieved 4 January 2018.