Chinese ride-sharing conglomerate DiDi has bonded with online travel service giant Booking Holdings, acquiring US$500 million in investment from the latter, The Paper reported.
Applications under Booking Holdings will provide their users with access to Didi’s ride-hailing services. While Didi’s users can also book accommodation directly via Booking.com or agoda.com.
Mohan Yang, an investment manager at the Polaray Capital, thinks the cooperation will help Booking Holdings accelerate its business expansion in China and tap into the nation’s growing domestic and overseas tourism market.
Meanwhile, Booking’s market share and brand awareness overseas will be beneficial for DiDi to expand its overseas business.
Booking Holdings owns several popular brands, such as Booking.com, agoda.com, Kayak, Priceline.com, Rentalcars.com and OpenTable, covering more than 220 countries and regions around the world.
While DiDi has 550 million registered users, and promotes travel and smart transportation in China, South America, Australia and Japan.